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MW 15 June 2016

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maltatoday, WEDNESDAY, 15 JUNE 2016 12 Regular market closed – 14/6/2016 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change ● BOV 7,610 16,728.90 10 2.200 2.195 2.195 2.200 0.000 ▲ FIM 29,289 24,990.33 4 0.870 0.840 0.840 0.870 0.020 ▼ GO 4,000 11,553.10 2 2.890 2.880 2.880 2.890 -0.010 ▲ HSB 57,778 92,444.80 5 1.600 1.600 1.600 1.600 0.005 ▲ IHI 10,000 6,310.00 2 0.631 0.631 0.631 0.631 0.001 ● LOM 8,196 16,392.00 1 2.000 2.000 2.000 2.000 0.000 ● MLT 22,000 19,800.00 3 0.900 0.900 0.900 0.900 0.000 ▲ MPC 690 351.90 1 0.510 0.510 0.510 0.510 -0.028 ● MTP 6,600 11,884.60 4 1.801 1.800 1.801 1.800 0.000 ▲ SFC 1,225 7,729.75 1 6.310 6.310 6.310 6.310 0.010 ▼ G16B 69,882 71,363.50 2 102.120 102.120 102.120 102.120 -0.080 ▼ G17C 20,000 21,176.00 2 105.880 105.880 105.880 105.880 -0.020 ▼ G19A 9,659 11,664.21 2 120.760 120.760 120.760 120.760 -0.140 ▼ G19C 5,000 5,469.00 1 109.380 109.380 109.380 109.380 -0.110 ▼ G20B 8,000 9,360.80 1 117.010 117.010 117.010 117.010 -0.060 ▼ G21A 9,378 11,605.28 2 123.750 123.750 123.750 123.750 -0.120 ▼ G22A 4,000 5,112.00 1 127.800 127.800 127.800 127.800 -0.490 ▼ G22B 6,000 7,338.60 1 122.310 122.310 122.310 122.310 -0.150 ▼ G28B 48,000 64,574.40 4 134.530 134.530 134.530 134.530 -0.260 ▼ G29B 165,000 180,510.00 4 109.400 109.400 109.400 109.400 -0.210 ▼ G30A 1,100 1,603.58 1 145.780 145.780 145.780 145.780 -0.540 ▼ G31A 44,800 65,730.56 4 146.720 146.720 146.720 146.720 -0.590 ▼ G34A 156,000 206,310.00 1 132.250 132.250 132.250 132.250 -0.400 ▼ G36A 436,800 461,479.20 12 105.650 105.650 105.650 105.650 -0.330 ▼ G40A 74,300 82,476.27 6 111.010 111.000 111.000 111.010 -0.440 ● 6PM25 20,000 22,200.00 1 111.000 111.000 111.000 111.000 0.000 ● AX24A 1,300 1,443.00 1 111.000 111.000 111.000 111.000 0.000 ● BV18A 25,300 26,805.50 3 106.000 105.750 105.750 106.000 0.000 ● BV19A 9,000 9,546.30 1 106.070 106.070 106.070 106.070 0.000 ▲ BV19B 21,000 21,655.20 1 103.120 103.120 103.120 103.120 0.010 ● BV20A 21,900 23,321.31 3 106.490 106.490 106.490 106.490 0.000 ▲ CF26A 20,100 21,103.69 3 105.000 104.990 104.990 105.000 0.020 ● GH20A 1,500 1,560.00 1 104.000 104.000 104.000 104.000 0.000 ● HB17A 19,600 19,943.00 1 101.750 101.750 101.750 101.750 0.000 ● HP25A 28,800 31,248.00 2 108.500 108.500 108.500 108.500 0.000 ● IB25A 18,000 19,710.00 1 109.500 109.500 109.500 109.500 0.000 ▲ IG19A 3,500 3,553.20 1 101.520 101.520 101.520 101.520 0.020 ▼ IH25A 13,000 14,237.40 2 109.520 109.500 109.500 109.520 -0.480 ● MD18A 4,500 4,601.25 1 102.250 102.250 102.250 102.250 0.000 ● MF24A 3,000 3,318.90 1 110.630 110.630 110.630 110.630 0.000 ● MI21A 10,000 10,000.00 2 100.000 100.000 100.000 100.000 0.000 ● MS23A 1,200 1,308.00 1 109.000 109.000 109.000 109.000 0.000 ▼ MS26A 12,900 13,543.71 1 104.990 104.990 104.990 104.990 -0.010 ● PC20A 2,800 2,912.00 1 104.000 104.000 104.000 104.000 0.000 ▼ PT24A 9,600 10,343.04 1 107.740 107.740 107.740 107.740 -0.010 Market Summary as at June 14, 2016 Equity Official List Session State ................................................................... Market Closed Number of trades ............................................................. 106 Volume Traded ................................................................. 1,452,307 Value of € denominated securities .................................... 1,651,321.95 Value of US$ denominated securities ................................ 24,990.33 Value of GBP£ denominated securities .............................. 0.00 Current Index ................................................................... 4,436.520 Previous Index ................................................................. 4,431.749 Change in Index (%) ......................................................... 0.108% 6pm Holdings plc ......................... 0.950 0.00% MaltaPost plc ................................. 1.800 0.00% Bank of Valletta plc ....................... 2.200 0.00% Medserv plc .................................. 1.750 0.00% FIMBank plc .................................. 0.850 1.19% Mapfre Middlesea plc .................... 2.200 0.00% GlobalCapital plc ........................... 0.499 -0.20% MIDI plc ........................................ 0.380 0.00% GO plc .......................................... 2.900 0.00% Plaza Centres plc ........................... 1.070 0.00% Grand Harbour Marina plc ............. 0.900 0.00% RS2 Software plc ........................... 3.489 0.00% HSBC Bank Malta plc ..................... 1.595 -0.31% Simonds Farsons Cisk plc .............. 6.300 0.00% International Hotel Investments plc 0.630 -2.93% Tigné Mall plc ................................ 1.060 0.00% Island Hotels Group Holdings plc .. 1.101 0.00% Pefaco International plc ................ 2.240 0.00% Lombard Bank Malta plc ............... 2.000 0.00% Santumas Shareholdings plc ........ 2.350 0.00% Malita Investments plc ................... 0.900 0.00% Malta Properties Company plc ........ 0.538 0.00% Malta International Airport plc ....... 4.300 0.00% MSE Index Business Today Money Market Report for the week ending June 10, 2016 ECB Monetary Operations On Monday, June 6, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The operation was conducted on Tuesday, June 7, and attracted bids from euro area eligible counterparties of €50.85 billion, €1.06 billion lower than the bid amount of the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.00%, in accordance with current ECB policy. On Wednesday, June 8, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation attracted bids of $5.00 million, which was allotted in full at a fixed rate of 0.87%. During the week under review, participants in the first series of targeted longer-term refinancing operations (TLTROs) had the option of terminating or reducing their outstanding amount in those operations before maturity. Accordingly on Wednesday, June 29, a total of €367.86 billion will be repaid. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 90-day and 181- day bills, maturing on September 7 and December 7, 2016. Bids of €35.00 million were submitted for the 90-day bills, with the Treasury accepting €12.00 million, while bids of €20.00 million were submitted for the 181-day bills, with the Treasury accepting €3.00 million. Since €31.00 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €16.00 million, to stand at €320.00 million. The yield from the 90-day bill auction was -0.240%, down by 0.5 basis point from bids with a similar tenor issued on June 2, 2016, representing a bid price of 100.0600 per 100 nominal. The yield from the 181-day bill auction was also -0.240%, also down by 0.5 basis point from bids with a similar tenor also issued on June 2, 2016, representing a bid price of 100.1208 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 91-day and 182-day bills maturing on September 15 and December 15, 2016, respectively. German 10-year bond yield turns negative The yield on the 10-year bench- mark German bund fell into nega- tive territory for the first time ever on Tuesday, amid global growth concerns and jitters over the UK's upcoming referendum on its Euro- pean Union membership. German sovereign bonds – IOUs issued by the Bundesbank – are regarded as some of the safest investments in the world. But the negative yield is proof of investors' nervousness about the slowing global economy and the potential for turbulence if the UK leaves the EU. The move comes as the European Central Bank has ramped up its bond buying programme in recent months as well as investor uncertainty over whether the UK will stay in the European Union. The latter is sparking volatility across financial markets with a beneficiary of the tumult being government bonds. The latest trigger has been two new polls out of the UK which showed the Brexit camp is gaining momentum. The negative yield shows investors are prepared to accept a guaranteed loss just to keep their money safe. Like all government bonds, they come with a guaranteed interest rate payment, with the principal being given back at the end of their term – in this case 10 years. Such has been the demand for these bonds, however, that the purchase price now wipes out the expected interest payments. Analysts said there was widespread uncertainty in markets over the extent of China's slowdown, and a loss of faith in central banks' ability to return economies to growth. Since the 2008 financial crisis, central banks have slashed interest rates and poured billions into domestic businesses in an attempt to bring them back to life. Investors are betting sterling will fall – regardless of the outcome of the 23 June vote – with millions placed in the derivatives market, where traders can speculate in the future price of currencies. A spokesperson for the German Federal Debt Agency spoke immediately after the milestone was reached, stating that the tradability of federal securities is "still very high". "The federal debt-management strategy is long-term, therefore, the current absolute yield level plays only a subordinate role. Our target remains a sustainable balance between cost and planning security for the debt portfolio," the agency said. An ORB poll for the Telegraph showed 48 percent of Britons would vote to remain in the European Union, while 49 percent would vote to leave. A YouGov poll for The Times of London showed 46 percent preferred to leave, while 39 percent wanted to remain. Popular British newspaper The Sun also endorsed the leave vote for the upcoming referendum vote on 23 June.

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