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The MSE Share Index dropped 0.13% to 4,317.167 points as the negative performances of HSBC and MIA outweighed the gains in GO and BOV. Trading volumes jumped to a four week high mainly on increased activity in the two largest capitalised companies. Download a copy of today’s Equity Market Summary.

On the bond market, the RF MGS Index closed virtually unchanged near a 4-month high of 1,144.113 points as yields across the eurozone remained under pressure following last week’s dovish comments by the President of the European Central Bank Mr Mario Draghi, who hinted about the possibility of additional monetary stimulus in order to tackle deflationary pressures. This morning, the benchmark 10-year German Bund yield declined to 0.50% from the 0.52% level on Friday morning and also briefly dropped to the 0.49% level.

The recently listed 2.3% MGS 2029 advanced to 105.42% compared to the offer price of 102.50%.

HSBC Bank Malta plc reversed almost all of the gains registered last Friday as the equity shed 2.6% to the €1.801 level across 56,000 shares.

The other negative performer of today’s session was Malta International Airport plc as the share price of the airport operator shed 0.8% to the €3.821 level on weak volumes of 2,092 shares.

On the other hand, in anticipation of the publication of the 30 September 2015 financial statement due next Friday, Bank of Valletta plc advanced by 1.2% to the €2.39 level across heightened trading activity totalling 92,118 shares. The Bank’s Directors will also be considering the declaration of a final dividend to be recommended to shareholders during the upcoming Annual General Meeting. Moreover, last week BOV announced that it obtained approval for a €150 million Subordinated Debt Issuance Programme. Further details will be available in due course.

Meanwhile, GO plc continued to recover from last week’s 6.0% decline as the equity of the quad-play operator closed 1.5% higher at the €3.30 level also across shallow volumes of 3,000 shares. Following the approval of a net interim dividend ‘in kind’ of €0.3313 per share, each GO shareholder as at close of trading on 21 October 2015 will be receiving one share in Malta Properties Company plc (MPC) for every GO plc share held. MPC shares are expected to be admitted to the Official List of the Malta Stock Exchange on 23 November 2015 and trading is expected to commence the following day.

Last week GO issued its Interim Directors’ Statement updating the market on its performance up to September 2015. The Directors explained that the positive trends which were registered in the first half of the year continued throughout the third quarter and the Group is anticipating closing the current financial year with increased profitability when compared with the corresponding period last year when pre-tax profits amounted to €20.3 million. With regards to the investment in Greece, GO and its immediate parent, EITML, are continuing to monitor developments closely and will evaluate any potential binding offers for Forthnet accordingly.

The other active equity of the day was FIMBank plc. The equity of the trade finance specialist closed unchanged at the USD0.43 level across two deals of 37,165 shares.

This morning, the Malta Stock Exchange confirmed the listing of an additional 16,709,956 shares International Hotel Investments plc following the recent bonus share issue.

 

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