The share index suffered its largest daily drop in seven weeks today as it retreated by 0.8 per cent to 4,532.434 points.

In particular, the equity of Mapfre Middlesea plunged by 16.3 per cent to a one-year low of €2.01 on trivial volumes totalling just 1,000 shares.

GO and Malta International Airport also registered losses on shallow volumes today.

GO dropped one per cent lower to the €2.85 level while MIA retreated by 0.2 per cent to the €4.24 level across 1,216 shares.

Eligible GO shareholders have until July 22 to submit their relative acceptance form in connection with TT ML Limited’s offer to acquire GO shares at the price of €2.87 per share.

Also among the large companies, RS2 Software lost 0.5 per cent to the €2.14 level on volumes totalling 44,924 shares.

A single deal of 15,000 shares transacted at the 88c level dragged the equity of Malita Investments 1.1 per cent lower.

Within the same segment, Malta Properties Company maintained the 50c7 on negligible volumes.

FIMBank maintained its seven-year high of $1 on 20,000 shares.

In contrast, HSBC and Bank of Valletta both posted gains today. HSBC recaptured the €1.60 level (+1.3 per cent) on 1,240 shares while BOV closed minimally higher at the €2.22 level across 6,140 shares. HSBC will publish its interim results on August 3.

Meanwhile, Medserv reached its highest level this year as it ended today’s trading session at €1.84 across 8,926 shares.

Tigne’ Mall settled its recently approved final net dividend of 1c25 per share today. The equity remained inactive.

On the bond market, the RF MGS Index suffered its largest pullback in the last two weeks as it retreated by 0.14 per cent to 1,157.997 points. While the yields of the 10-year Italian and Spanish government bonds trended marginally lower, the corresponding benchmark German Bund advanced from -0.167 per cent of yesterday to -0.127 per cent today.

On the economic front, the annual rate of inflation in Germany picked up in June but remained far below the European Central Bank's medium-term target of close to but below two per cent.

Indeed, consumer prices in Germany increased by 0.1 per cent in June and by 0.2 per cent year-on-year. Meanwhile, Germany’s wholesale prices also rose in June, by 0.6 per cent from 0.9 per cent in the preceding month.

International Hotel Investments shareholders as at the close of trading on June 27 have until July 19 to apply for the new €55 million four per cent secured bonds maturing in 2026. The public offer for the same bond issue opens on July 20 and closes on July 22 or earlier in the case of over-subscription.

Meanwhile, preferred applicants of MIDI (i.e. holders of the seven per cent MIDI 2016/18 (EUR) bonds, seven MIDI plc 2016/18 (GBP) bonds and shareholders of MIDI) have until July 18 to apply for the new €50 million four per cent secured bonds maturing in 2026. Bondholders of the seven per cent GBP bonds can transfer their holding into the new four per cent EUR bonds at a rate of 83p4 per €1.

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