The share index rebounded into positive territory with a 0.2 per cent increase to 4,426.303 points largely due to the two per cent increase in the share price of Bank of Valletta, which reached a six-week high of €2.34,5 on volumes of 28,290 shares.

The bank’s shares will trade with the entitlement to the one for 12 bonus share issue until January 13 and will turn ex-bonus from the following trading day.

The share price of Malta Properties Company also trended higher with a 6.2 per cent jump to regain the 50c level across four deals totalling 100,100 shares.

Similarly, the equity of Midi edged up 1.1 per cent to 36c4 across 36,000 shares.

The only other positive performing equity was 6pm Holdings with a 1.5 per cent uplift to 70p albeit on shallow volumes of 4,127 shares.

On the other hand, the equity of HSBC shed 0.9 per cent to the €1.74,5 level on just over 9,903 shares.

The share price of Lombard Bank also drifted 0.2 per cent lower back to the €2.48 level on substantial volumes of 201,702 shares.

International Hotel Investments also trended in negative territory today with a 1.3 per cent drop back to the 76c level on volumes of 14,191 shares.

Meanwhile, GO maintained the €3 level across two deals totalling just 1,994 shares.

Malta International Airport held on to the €4 level on low volumes of 6,150 shares.

Last week, Medserv (the equity was inactive during this morning’s session) announced that it was granted approval by the Listing Authority for a €30 million unsecured bond issue due in 2026 (in a combination of USD bonds at a coupon of 5.75 per cent and EUR bonds at a coupon of 4.5 per cent) as well as a €15 million rights issue at a price of €1.50 each.

Shareholders as at the close of trading last Wednesday are entitled to the rights issue of two new shares for every nine shares held. Medserv will be mainly using these funds to acquire the METS Group.

On the bond market, the RF MGS Index eased 0.1 per cen t lower to 1,134.827 points as the benchmark 10-year German Bund yield edged up to the 0.61 per cent level – just above last Wednesday’s morning level of 0.6 per cent.

Nonetheless, yields across the Eurozone remain under pressure given the further decline in the oil price which in turn is escalating inflation concerns.

Trading in the recently-listed 3.5 per cent BOV 2030 subordinated bonds commenced last Wednesday. The Series 1 issue failed to hold on to last week’s level of 105 per cent as it slipped back to the 104.5 per cent level during this morning’s session. Meanwhile, the Series 2 issue traded for the first time this morning with the price immediately reaching the 103.99 per cent level.

The final two trading sessions of 2015 will take place tomorrow and on Wednesday. Trading will then resume on Monday.

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