The share index retreated for the fifth consecutive session with a further 0.2 per cent decline to a new two-week low of 4,419.062 points as the equities of the three retail banks trended in negative territory.

The share price of Bank of Valletta dropped for the sixth successive session (including the adjustment after the equity turned ex-dividend on Monday) as the bank’s equity eased by a further 0.2 per cent during today’s trading session to close at the €2.31,5 level across 13 deals totalling 41,347 shares.

The equity of HSBC also featured among today’s negative performers with a 1.1 per cent drop back to the €1.83 level albeit on substantially lower volumes of 6,350 shares.

Likewise, the share price of Lombard Bank retreated by 1.3 per cent back to the €2.25 level on a single trade of 800 shares.

The only other negative performing equity today was MIDI as its share price slumped 8.6 per cent back to the 32c level on shallow volumes of 6,500 shares.

The company yesterday issued its interim directors’ statement explaining that since July 1, it has started delivering apartments from the recently completed Q1 residential block and will be accounting for profits on the sale of such apartments in the 2015 financial statements.

This should in turn lead to an overall profit for the company this year. The announcement also explained that works on the Q2 residential block and business centre are also progressing well.

The company confirmed that it recently engaged an international consulting firm with the aim of reviewing the design concept of Manoel Island whilst continuing discussions with third parties that have expressed an interest to invest in the project.

On the other hand, the share price of RS2 Software reached yet another all-time high of €2.90,5 representing a 0.5 per cent increase over the previous closing price on strong volumes of 52,852 shares.

Among the large equities by market capitalisation, the share price of International Hotel Investments also advanced by 0.4 per cent to 84c9 albeit on very low volumes of 2,320 shares.

The share price of FIMBank also edged 3.3 per cent higher to 46c5US on volumes of 40,000 shares.

The only other positive performing equity was Malita Investments with a 1.1 per cent increase to regain the 93c level on volumes of 5,000 shares.

Meanwhile, Malta International Airport closed at the €4 level after the equity failed to hold on to a new all-time high of €4.03 across a total of 41,627 shares.

Yesterday, the airport operator published its interim directors’ statement revealing that the company is expected to register improved profitability in 2015 (compared to a profit after tax of €16.8 million in 2014) on the back of €1.86 million (pre-tax) gain registered on the disposal of the shareholding in Valletta Cruise Port as well as the 7.4 per cent increase in passenger movements during the first 10months of the year.

A further three equities - Mapfre Middlese, MaltaPostand Tigné Mall, also closed this morning’s session unchanged on shallow volumes.

On the bond market, the RF MGS Index extended its recent positive run with a further 0.1 per cent increase to 1,141.083 points as the 10-year German bund yield continue to edge lower towards the 0.5 per cent level in anticipation of further stimulus measures to be announced by the European Central Bank during its December monetary policy meeting as well as increased demand for ‘safe-haven’ assets in view of the security threats around Europe.

Last week, Bank of Valletta published a prospectus dated October 16 and a supplement dated November 9 in connection with the recently announced €150 million subordinated debt issuance programme.

BOV also published the final terms confirming the issuance of the first tranche of €75 million 3.5 per cent subordinated notes maturing in 2030.

Tranche 1 is split into series 1 (minimum €25,000 per application) and series 2 (minimum €5,000 per application). €40 million has been reserved for preferred applicants (shareholders, directors and employees) who must submit all information by November 30. Other investors must apply by December 2.

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