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Local equities remain buoyant

The share index advanced for the third consecutive session with a further 0.1 per cent increase to 4,142.819 points as various equities edged higher during this morning’s session.

Among the large cap equities, the share price of HSBC inched 0.5 per cent higher to recapture the €1.83 level on volumes of 11,594 shares. HSBC will be publishing its interim results on August 3.

Similarly, Malta International Airport edged 0.3 per cent higher to regain the €3.46 level across 2,800 shares. MIA will be reporting on its interim financial statements on July 29.

RS2 Software rebounded from yesterday’s 0.7 per cent decline to recapture its all-time high of €2.22 across six deals totalling 30,602 shares.

The equity of Tigné Mall moved 1.2 per cent higher to close at its all-time high of 86c on a deal of 5,000 shares.

MaltaPost ended this morning’s session at the €1.50,1 level compared to the previous closing price of €1.50 on a trade of 4,394 shares.

Likewise, a small increment of 0c5 was registered in the share price of Mapfre Middlesea to €1.67,5 on shallow volumes of 2,000 shares in contrast to yesterday’s four per cent drop.

On the other hand, the share price of GO slipped to an intra-day low of €3.55 before rebounding to end this morning’s session at the €3.57,9 level which still represents a minimal decline from the previous closing price.

Similarly, the equity of MIDI trended in negative territory today with a 2.3 per cent drop from its 2015 high of 35c on volumes of 30,000 shares.

Meanwhile, Bank of Valletta maintained the €2.30 level as 22,745 shares traded.

Yesterday, BOV issued its interim directors’ statement informing the market that its financial performance since April 1 was in line with expectations.

BOV reported strong growth in home loans while customer deposits continued to grow especially in the short-term category resulting in a positive impact on the net interest margin of the bank.

BOV also indicated that commissions earned on the sale of financial products continued to grow while other income generated from foreign exchange transactions and investment portfolio gains improved. Meanwhile, costs were higher than those of previous years and impairment charges on specific accounts increased reflecting the deteriorating quality of such accounts.

The equity of Medserv also ended this morning’s session unchanged at its 2015 high of €2.35,5 on a single trade of 2,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1 per cent higher to 1,113.181 points possibly reflecting the decline in the benchmark 10-year German Bund Yield from above the 0.9 per cent level to around the 0.86 per cent level.

Yesterday, Greece and its euro-zone partners agreed to begin talks over a third bail-out worth up to €86 billion over three years on condition that the Mediterranean country implements a number of austerity measures which were opposed by its citizens in the recent referendum.

Earlier today, 6pm Holdings published a prospectus dated July 8 in connection with a new €13 million bond issue. 6pm is reserved for shareholders as at the close of trading on June 4.

www.rizzofarrugia.com

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