The share I index advanced by 0.31 per cent to 4,480.165 points – the highest level since early May 2008 – as the positive performance of five equities offset the declines in the prices of another three equities. Trading volumes remain exceptionally high with over €736,000 worth of shares changing hands during today’s session.

Most notably, the equity of RS2 Software advanced by 2.8 per cent to close at a new all-time high of €3.10 across 37,690 shares.

FIMBank also continued to trade higher as the equity gained a further 4.5 per cent to regain the 58c5US level for the first time since mid-October 2014 across 12,700 shares.

Also in the banking sector, both Bank of Valletta and Lombard Bank managed to register positive movement in contrast to the recent weak performances. The equity of BOV moved 0.9 per cent higher to close at the €2.27 level across high trading volumes totalling 58,303 shares.

The bBank will be holding its next annual general meeting on December 17, during which shareholders will be asked to approve a number of resolutions including a gross final dividend of 8c5 per share (payable on the following day) and a one for every 12 bonus share issue.

Similarly, Lombard Bank’s equity advanced by 1.8 per cent to close at the €2.25 level across 22,518 shares.

The only other positive performer of the day was Medserv as the equity recovered from an intra-day low of €2.10 to close at the €2.12,5 level (+1.2 per cent) albeit on shallow volumes.

Following three consecutive sessions of exceptional gains, the equity of the recently listed entity Malta Properties Company plc slumped 9.8 per cent to close at the 72c level across reduced trading volumes of 126,203 shares. Despite this morning’s decline, the equity has more than doubled in value since commencing trading on Tuesday.

Also in the property sector, a single deal of just 1,200 shares of Malita Investments plc were transacted at the 92c level representing a 1.5 per cent drop from the previous closing price.

The only other negative performer of the day was HSBC as the equity closed 0.6 per cent lower at the €1.79 level across 42,733 shares.

Yesterday, the bank issued an announcement in which it revealed that, as part of its cost savings plan, it has approved a plan to launch a voluntary early retirement scheme for its employees.

The estimated cost of this one-off expenditure will depend on the number of applications received. Nonetheless, the directors expect this exercise to lead to reduced profitability in the current financial year but will support an increased level of profitability and efficiency in future years.

Meanwhile, five other equities closed unchanged. GO managed to recover from an intra-day low of €2.95 to once again close at the €3 level across high volumes totalling 61,800 shares.

The equity prices of MIDI and Malta International Airport held on to the 36c5 (8,000 shares) and €4.01 (12,280 shares) levels respectively.

Similarly, the equity of Simonds Farsons Cisk maintained its all-time high of €6.20 across 2,600 shares.

The equity price of 6pm Holdings also remained flat at the 68p level across insignificant volumes.

On the bond market, the RF MGS Index retreated by 0.06 per cent from its seven-month high (reached yesterday) to 1,150.645 points despite the fact that eurozone government bond yields continued to inch lower today, with the 10-year German Bund yield easing from the 0.47 per cent of yesterday to 0.46 per cente today.

Markets are anticipating that the European Central Bank will extend its already loose monetary policy at its next meeting to be held on Thursday.

Preferred applicants under Tranche 1 of Bank of Valletta's Subordinated Debt Issuance Programme have until Monday to apply whilst e other investors have to submit their application by Wednesday. The bank is offering €75 million worth of Notes carrying a coupon of 3.5 per cent and maturing in 2030.

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