• The MSE Share Index advanced 0.4% to 4,334.459 points as all equities trade higher with the exception of Malita Investments. Trading activity decreased to just over €245,000 worth of shares and was dominated by BOV. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index closed marginally lower at 1,143.960 points as the 10-year German Bund yield remained virtually flat around the 0.50% level. Later on during the day, the benchmark Bund dropped abruptly to the 0.46% level possible due to the further decline in the price of oil added concerns to the eurozone’s inflationary outlook, increasing expectations of additional monetary interventions by the European Central Bank.
  • Medserv plc and Simonds Farsons Cisk plc reached new all-time highs on shallow volumes. The equity of Medserv increased by 1.8% to the €3.15 level across 1,000 shares. Medserv is shortly expected to convene another Extraordinary General Meeting in anticipation of the acquisition of the METS Group for USD46 million by 23 February 2016. Similarly, Farsons advanced by 0.8% to the €6.05 level across a single deal of just 2,000 shares.
  • HSBC Bank Malta plc recovered some of yesterday’s losses and moved 1.1% higher to the €1.82 level across 23,894 shares.
  • Also in the banking sector, Bank of Valletta plc closed at its highest level since late March 2015 as the equity edged up 0.4% to the €2.40 level across 59,050 shares. Next Friday, BOV will be publishing its annual results for the 2014/2015 financial year. 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 in December 2015. 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.
  • The other positive performer of the day was Malta International Airport plc as the share price of the airport operator wiped out all of yesterday’s decline and moved 0.8% higher back to the €3.85 level across 9,345 shares.
  • Meanwhile, Malita Investments plc lost 1.6% and closed at the €0.92 level across a single deal of 10,000 shares.
  • This morning, International Hotel Investments plc published its Interim Directors’ Statement covering the nine-month period up to the end of September 2015. IHI explained that the positive trends highlighted in the 2015 interim financial statements have persisted during the third quarter of the year and expectations for the rest of the financial year remain buoyant. IHI expects to register €47 million in earnings before interest, tax, depreciation and amorisation (EBITDA) during the current financial year to 31 December 2015 including the 50% share of the London hotel and the consolidation, as from July 2015, of the 100% ownership of the Island Hotels Group. IHI also announced that it will shortly complete the full acquisition of the large parcel of land in Hal Ferh. IHI also expects to enter into new development and hotel management agreements with third party investors in cities and resorts across Europe and the Gulf.

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