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  • The MSE Share Index suffered a decline for the second consecutive day as it shed a further 0.29% to 4,456.446 points, namely due to the decrease in the share price of IHI. Trading volumes decreased considerably to just €154,500. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index registered its third consecutive gain as it advanced by a further 0.05% to 1,144.097 points. Downward pressure on eurozone bond yields persisted amid uncertain and volatile global stock markets. Indeed, the benchmark 10-year German Bund yield dropped to 0.42% today. In Germany, concerns about deflation re-emerged on fresh data showing that, on average, import prices fell 2.6% in 2015 compared to a year before. Yesterday evening, the Federal Open Market Committee left US interest rates unchanged at a range between 0.25% and 0.5%.
  • The equity of International Hotel Investments plc lost 5.4% to drop back to the €0.70 level across 61,000 shares.
  • Medserv plc shed 1.8% to the €1.65 level across shallow volumes totalling 3,994 shares. Recently, the oil and gas logistics company unveiled that it was awarded two full service logistics contracts offshore Libya having an estimated value of between of €2 to €3 million. These are expected to commence in the second quarter of 2016 and will require Medserv to utilise both their Malta Base facilities and their Libyan Branch. The market now awaits the results of the Lapsed Rights offer and the commencement of trading in the bonds and new shares as from 8 February.
  • The other negative performer today was Malta International Airport plc which edged minimally lower to the €4.35 level across 7,450 shares. The Company will announce its 2015 financial results on 24 February. The Board of Directors will also be considering the payment of a final dividend.
  • On the other hand, Bank of Valletta plc reversed yesterday’s decline and regained the €2.22 level (+0.9%) across 19,802 shares.
  • Also amongst the large caps, GO plc managed to recover from an intra-day low of €3.09 to a close at the €3.19 level (+1.3%) across 2,680 shares. Last week, the quad-play operator announced that it exercised its option of increasing its stake in the Cypriot telecoms company Cablenet from the current level of 25% to 51%. Commenting on the transaction, GO’s Chairman stated that Cablenet continues to perform strongly, delivering steady, double-digit growth in both revenue and EBITDA over recent years. The Chairman also stated that the company offers significant potential for GO.
  • Two deals totalling just 600 shares pushed the equity of Malta Properties Company plc up by 1.9% to the €0.55 level.
  • Within the same sector, Plaza Centres plc (7,500 shares) and Tigné Mall plc (6,000 shares) closed unchanged at the €1.00 and €0.96 levels respectively.
  • Similarly, HSBC Bank Malta plc retained the €1.75 level across 3,606 shares. The Bank will publish its 2015 full year results on 22 February.
  • Mapfre Middlesea plc maintained the €2.255 level on insignificant volumes.

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