The MSE Equity Price Index gained 0.32% to 4,477.338 points today, reflecting the gains in the share prices of IHI (+3.2%) and RS2 (+1.4%) which outweighed the drops in MIA (-0.4%) and Medserv (-0.8%). Meanwhile, four other equities closed the day unchanged, including Bank of Valletta plc which maintained the €1.81 level on encouraging volumes totalling 154,960 shares.

All other shares traded on very low volumes today. In the property segment, Malta Properties Company plc and Tigne’ Mall plc retained the €0.515 and €1.05 levels respectively.

A single deal of just 1,000 shares left the equity of GO plc at the €3.52 level.

International Hotel Investments plc surged by 3.2% to the €0.64 level albeit on trivial volumes.

RS2 Software plc advanced by 1.4% to recapture the €1.45 level on two deals totalling 8,225 shares.

In contrast, Malta International Airport plc retreated by 0.4% to the €4.88 level on insignificant volumes.

The other negative performing equity today was Medserv plc which lost 0.8% back to the €1.23 level across 6,400 shares. Last week, the oil and gas services company revealed that it secured a new three-year contract with the option of further extensions for the provision of integrated logistics support services for the production phase of offshore operations being conducted by an International Oil Company. The new contract was awarded through a competitive tender process and is effective as from 1 January 2018. The initial value of the contract is estimated to be over €10 million with prospects for further growth.

Listing of the shares in Trident Estates plc (the property management arm being spun-off from Farsons) is expected to take place tomorrow.

The RF MGS Index opened the week in negative territory as it extended last Friday’s decline of 0.22% by a further 0.17% to a one week low of 1,115.754 points. Sovereign yields rose markedly today, possibly reflecting growing optimism about the current strength of economic recovery across major economies. In fact, the 10-year German Bund yield reached an over two-year high of just under 0.7% before partially retreating. Similarly, the yield on the 10-year UK Treasury climbed to a twelve-month high of 1.471% and the yield on the 10-year US Treasury surged to a near four-year high of 2.727%.

Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is

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