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  • The MSE Share Index slid by 0.21% to 4,475.996 points as the negative performance of five equities slightly offset the gains in the prices of another five equities. Trading volumes remain exceptionally high with over €868,000 worth of shares changing hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index advanced by 0.3% to a new seven-month high of 1,151.307 points in anticipation of the next monetary policy meeting of the European Central Bank (ECB) which is scheduled to be held on Thursday 3 December. During the meeting, policymakers are expected to agree on further stimulus measures.
  • Preferred applicants under Tranche 1 of Bank of Valletta plc’s Subordinated Debt Issuance Programme have until this Monday 30 November to apply whilst other investors have to submit their application by Wednesday 2 December. The Bank is offering €75 million worth of Notes carrying a coupon of 3.5% and maturing in 2030.
  • Once again, the recently listed equity of Malta Properties plc registered another material gain of 9.3% as it reached the €0.798 level across 477,850 shares. Since commencing trading last Tuesday, the share price rallied by 140.9% across 1,650,840 shares representing 1.6% of the Company’s total issued shares.
  • Despite cautioning about the prospects of registering lower profits for this year, the equity of HSBC Bank Malta plc advanced by 1.1% to close at the €1.80 level across 22,171 shares. This morning, the Bank issued an announcement in which it revealed that, as part of its cost savings plan, it has approved a plan to launch a voluntary early retirement scheme for its employees. The estimated cost of this one-off expenditure will depend on the number of applications received. Nonetheless, the Directors expect this exercise to lead to reduced profitability in the current financial year but will support an increased level of profitability and efficiency in future years.
  • The equity of RS2 Software plc also edged 0.2% higher to the €3.015 level across 25,000 shares.
  • Malta International Airport plc and Malita Investments plc also managed to end higher as they both recovered from intra-day lows. In fact, the equity of the airport operator rebounded from the €3.96 level to end the session 0.5% higher at the €4.01 level across 10,640 shares. On the other hand, the equity of the property company closed 0.4% higher at the €0.934 level after managing to recover from an intra-day low of €0.89 across a total of 42,000 shares.
  • On the other hand, the worst performer of the day was FIMBank plc as the equity gave up some of its recent solid gains and closed the session 6.5% lower at the USD0.56 level across 65,178 shares.
  • GO plc also trended in negative territory as it shed 3.2% to close at the €3.00 level across 47,700 shares.
  • The three other negative performers were Medserv plc (-1.9% to €2.10), Mapfre Middlesea plc (-0.4% to €2.28) and International Hotel Investments plc (-0.4% to €0.846) albeit on insignificant volumes.
  • Meanwhile, the equity of Bank of Valletta plc failed to hold on to an intra-day high of €2.29 as it ended this morning’s session unchanged at the €2.25 level across 25,000 shares. The Bank will be holding its next Annual General Meeting on Thursday 17 December, during which shareholders will be asked to approve a number of resolutions including a gross final dividend of €0.085 per share (payable on the following day) and a 1 for every 12 bonus share issue. Shareholders today should have received the 2015 Annual Report and other documents related to the meeting.
  • Similarly, three other equities closed unchanged. Simonds Farsons Cisk plc and MaltaPost plc held to their respective all-time highs of €6.20 (10,240 shares) and €1.99 (500 shares) respectively.
  • 6PM Holdings plc also retained the GBP0.68 level across two deals totalling 3,000 shares.

 

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