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  • The MSE Share Index advanced by 0.31% to 4,480.165 points – the highest level since early May 2008 – as the positive performance of five equities offset the declines in the prices of another three equities. Trading volumes remain exceptionally high with over €736,000 worth of shares changing hands during today’s session. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index retreated by 0.06% from its seven-month high (reached yesterday) to 1,150.645 points despite the fact that eurozone government bond yields continued to inch lower on Friday, with the 10-year German Bund yield easing from the 0.47% of yesterday to 0.46% today. Markets are anticipating that the European Central Bank will extend its already loose monetary policy at its next meeting to be held on Thursday 3 December.
  • 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.
  • Most notably, the equity of RS2 Software plc advanced by 2.8% to close at a new all-time high of €3.10 across 37,690 shares.
  • FIMBank plc also continued to trade higher as the equity gained a further 4.5% to regain the USD0.585 level for the first time since mid-October 2014 across 12,700 shares.
  • Also in the banking sector, both Bank of Valletta plc and Lombard Bank Malta plc managed to register positive movement in contrast to the recent weak performances. The equity of BOV moved 0.9% higher to close at the €2.27 level across high trading volumes totalling 58,303 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.
  • Similarly, Lombard Bank’s equity advanced by 1.8% to close at the €2.25 level across 22,518 shares.
  • The only other positive performer of the day was Medserv plc as the equity recovered from an intra-day low of €2.10 to close at the €2.125 level (+1.2%) albeit on shallow volumes.
  • Following three consecutive sessions of exceptional gains, the equity of the recently listed entity Malta Properties Company plc slumped 9.8% to close at the €0.72 level across reduced trading volumes of 126,203 shares. Despite this morning’s decline, the equity has more than doubled in value since commencing trading on Tuesday.
  • Also in the property sector, a single deal of just 1,200 shares of Malita Investments plc were transacted at the €0.92 level representing a 1.5% drop from the previous closing price.
  • The only other negative performer of the day was HSBC Bank Malta plc as the equity closed 0.6% lower at the €1.79 level across 42,733 shares. On Thursday, 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.
  • Meanwhile, five other equities closed unchanged. GO plc managed to recover from an intra-day low of €2.95 to once again close at the €3.00 level across high volumes totalling 61,800 shares.
  • The equity prices of MIDI plc and Malta International Airport plc held on to the €0.365 (8,000 shares) and €4.01 (12,280 shares) levels respectively.
  • Similarly, the equity of Simonds Farsons Cisk plc maintained its all-time high of €6.20 across 2,600 shares.
  • The equity price of 6pm Holdings plc also remained flat at the GBP0.68 level across insignificant volumes.

 

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