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  • The MSE Share Index edged 1% higher today largely due to the 9.4% jump in the share price of MIA. The equities of GO, BOV, Lombard and Tigne Mall also trended in positive territory whilst Plaza and Mapfre eased lower. No changes were recorded in the share prices of Medserv and RS2 on shallow volumes. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index trended higher for the ninth time in the last ten sessions with a further 0.2% increase to 1,128.381 points in line with the continued retreat in the benchmark 10-year German Bund yield to 0.673% – the lowest level since 9 July. Meanwhile, the 10-year yields of Spain and Italy were relatively unchanged.
  • On the corporate bond market, last week Mediterranean Investments Holding plc published the allotment policy with respect to its recent €20 million bond issue. The applications received from Maturing Bondholders were met in full and the Company allotted 26.745% of any additional amounts applied for by Maturing Bondholders. No allocations were made to the other applicants. Trading is expected to commence next Monday 3 August.
  • Following last Thursday’s announcement that Emirates International Telecommunications (Malta) Limited (EIT) intends to sell its 60% stake in GO plc in the ‘short-term’, the equity of the quad-play telecom operators plunged a total of 12.5% during the final two sessions of last week. Yesterday afternoon, EIT issued a press release explaining that it has just initiated the disposal process and as such has not yet identified a buyer for its shares. Furthermore, EIT confirmed that it would be holding on to its shares in the property company, Malta Properties Limited which is in the process of being spun-off from GO plc. Following this latest announcement, the share price of GO plc rebounded by 1.6% during this morning’s session to recapture the €3.20 level on strong volumes of 124,282 shares.
  • The best performing equity today was Malta International Airport plc with a rally of 9.4% to yet another all-time high of €4.00 across nine deals totalling 20,299 shares. Last week, the airport operator revealed record passenger numbers for the first six months of 2015 and upgraded its 2015 passenger growth forecast to +4.6%. MIA is scheduled to publish its interim financial statements next Wednesday.
  • In the banking sector, Bank of Valletta plc’s equity edged 0.7% higher to regain the €2.29 level across thirteen deals totalling 52,350 shares.
  • Similarly, the share price of Lombard Bank Malta plc touched a fresh 2015 high of €1.96 before easing back to end this morning’s session at the €1.95 level which only represents a minimal increase over the previous closing price. Activity was high with over 62,000 shares changing hands today.
  • The only other positive performing equity was Tigné Mall plc with a 2.9% increase to a fresh all-time high of €0.89 on volumes of 28,000 shares. The Company is scheduled to publish its interim results on 10 August.
  • On the other hand, Plaza Centres plc eased by 1% back to the €0.95 level across three trades totalling 15,550 shares.
  • Similarly, Mapfre Middlesea plc retreated by 2.2% back to the €1.75 level on shallow volumes of 2,100 shares.
  • Meanwhile, Medserv plc held on to its all-time high of €2.37 as a further 2,400 shares traded at this level.
  • Likewise, RS2 Software plc held on to the €2.25 level on shallow volumes of 380 shares.

 

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