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  • After reaching a new near nine-year high yesterday, the MSE Share Index retreated by 0.28% today to 4,607.089 points reflecting the declines in the share prices of BOV (-2.0%) and GO (-0.8%). Trading volumes remained encouraging as nearly €0.34 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • On the bond market, the RF MGS Index posted a three-day positive streak as it advanced by 0.18% to a near seven-week high of 1,155.107 points. Euro zone sovereign yields continued to decline today (bond prices went up) with the 10-year benchmark German Bund yield touching a low of 0.179% – the lowest since Donald Trump won the US Presidential election. Some international analysts and commentators are connecting the recent rally in euro zone sovereign bond prices with the current uneasiness in the Italian banking sector. In fact, some are now questioning whether the €20 billion earmarked by the Italian government for the rescue of the country’s banks would be sufficient. In contrast, the 10-year US treasury yield rose to 2.56% yesterday after a new survey found that consumer confidence in the world’s largest economy hit its highest level in more than 15 years in December. The spread between the 10-year German and US yields has been on the rise recently possibly reflecting the monetary policy divergence of the ECB and the Federal Reserve and the outlook for growth and inflation in the respective continents.
  • The most actively traded equity was Bank of Valletta plc which slipped by 2.0% to a near four-week low of €2.22 across 37,726 shares. The equity will continue trading with the entitlement to the 1 for 13 bonus issue until 12 January 2017.
  • Two deals totalling 16,000 shares pulled the equity of GO plc from its seven-month high of €3.285 back to the €3.26 level.
  • Also amongst the large companies, HSBC, IHI, MIA and RS2 all finished the day unchanged. HSBC Bank Malta plc (19,100 shares) and International Hotel Investments plc (20,011 shares) maintained the €1.91 and €0.649 levels after recovering from their intra-day lows of €1.89 and €0.62 respectively. Trading in the newly issued 4% IHI 2026 bonds is expected to start tomorrow.
  • Malta International Airport plc closed at the €4.05 level for the fifth consecutive trading session. A total of 5,475 shares traded today.
  • RS2 Software plc held on to its recent gains as it maintained its near four-month high of €1.793 across six deals totalling 21,333 shares.
  • Similarly, Simonds Farsons Cisk plc retained the €7.00 level across 11,184 shares.
  • In contrast, three equities registered gains today. The best performing was MIDI plc with a rebound of 4.5% to the €0.35 level albeit on shallow volumes totalling 13,000 shares.
  • Meanwhile, two single deals of 1,350 shares and 8,200 shares lifted the equities of Mapfre Middlesea plc and FIMBank plc to €2.249 (+1.3%) and USD0.87 (+1.2%) respectively.

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