• The MSE Share Index ended this morning’s session relatively unchanged at 3,416.782 points as the increases in the share prices of BOV, Island Hotels Group and RS2 Software offset the drop in FIMBank’s share price. Meanwhile, a further four equities closed the trading session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.2% higher to yet another all-time high of 1,126.918 points as benchmark 10-year Eurozone yields trended lower and tested new lows of 0.33% in view of the uncertainty over Greek debt following the victory of an anti-bailout party in the country’s recent general election and the divergent fortunes of the US and Eurozone economies (as highlighted by yesterday’s hawkish statement of the US Federal Reserve).
  • During this morning’s trading session, the share price of RS2 Software plc initially dropped to an intra-day low of €2.90 (2.5% lower than the previous closing price) on volumes of 6,830 shares. However, a deal of 666 shares was later executed at a new all-time high of €2.98 representing a 0.2% increase over the previous closing price.
  • Similarly, the equity of Island Hotels Group Holdings plc jumped 3% higher to reach a 5-year high of €1.02 level albeit on low volumes of 2,000 shares. Meanwhile, the share price of International Hotel Investments plc, in spite of the attack on the hotel in Tripoli, Libya, held on to the €0.62 level also on low volumes of 7,400 shares. The IHI Group recently revealed its intentions to acquire all the shares of Island Hotels Group for €1 in cash and 0.247 shares in IHI per IHG share. The offer is still subject to a number of conditions including a due diligence exercise by IHI on IHG. In this respect, IHG is calling an Extraordinary General Meeting (EGM) on 20 February 2015 during which it will request shareholders to approve a resolution empowering the Directors to provide all the required information to IHI.
  • The only other positive performing equity was Bank of Valletta plc with a 0.3% increase to regain the €2.071 level across fourteen deals totalling 21,656 shares.
  • On the other hand, the share price of FIMBank plc shed a further 3.5% to a fresh all-time low of USD0.55 across two deals totalling 21,000 shares possibly reflecting the recent downgrade by Fitch Ratings. The international rating agency downgraded FIMBank’s rating by one notch to ‘BB-’ citing the Bank’s high risk appetite, significant deterioration of asset quality, as well as unstable and weak earnings.  The trade finance specialist is expected to publish its 2014 full-year results on 11 March.
  • Meanwhile, HSBC Bank Malta plc held on to the €2.02 level across six trades totalling 5,970 shares. The Bank is scheduled to publish its 2014 full-year results on Monday 23 February.
  • GO plc also ended this morning’s session unchanged at the €2.60 level on shallow volumes of 2,820 shares. Likewise, MIDI plc maintained the €0.23 level on a single trade of 6,000 shares.

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