The share index closed higher for the third consecutive trading session as it climbed by a further 0.41 per cent to a near two-week high of 4,494.880 points on light volumes which dropped to a one-week low of €0.08 million.

Today’s gains in the local equity index were largely as a result of the 4.7 per cent jump in the share price of International Hotel Investments plc which advanced to the 64c9 level on trivial volumes.

Low trading activity also took place in the equity of Malta Properties Company which regained the 60c level (+2.6%).

Medserv traded for the first time in the last nine trading sessions today. The share price of the oil and gas logistics specialist eased by 1.1% to the €1.66 level across two deals totalling 4,900 shares.

Three deals totalling 15,000 shares pulled the equity of GO 0.4% lower to the €3.20,1 level.

Also among the large companies, Bank of Valletta (8,183 shares) and RS2 Software (1,520 shares) closed the day flat at €2.24 and €1.60 respectively. BOV is due to hold its annual general meeting on December 16 during which shareholders will be asked to approve a number of resolutions including the final gross dividend of 8c52 per share as well as a one for 13 bonus share issue.

MaltaPost published its September 30 annual financial statements after the close of today’s session. The company registered a 8.6% increase in revenue to €27.92 million but operating profits declined by 13.6% to €2.8 million.

The directors recommendation the payment of an unchanged net dividend of 4c per share to shareholders as at close of trading on December 23. Shareholders have the option of receiving the dividend either in cash or via the issuance of new shares at an attribution price of €1.85. The equity remained inactive today.

Santumas Shareholdings issued an announcement explaining that on November 28 it booked revenues amounting to just over €1.19 million arising from a material transaction.

While the transaction is expected to have a positive impact on the realised profits of the company for the financial year ending 30 April 2017, the 2016/2017 full year results will not be materially different from the profits shown in the comparable period ended April 30. No trades took place in the equity today.

On the bond market, the RF MGS Index trended higher for the first time in the last four days as it rebounded by 0.26% to 1,144.995 points.

The partial recovery in the opening indicative bid prices of the Central Bank of Malta (CBM) for Malta Government Stocks (MGSs) possibly occurred after the yields on Spanish government bonds fell notably following upbeat projections on the country’s economic growth and unemployment rate for 2016 and 2017.

Indeed, the 10-year Spanish yield touched a near three-week low of 1.459% today from a high of 1.713% yesterday. Meanwhile, in Germany, fresh data showed that factory orders rose more-than-expected to a seasonally-adjusted 4.9% in November from a revised -0.3% in the preceding month.

www.rizzofarrugia.com

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