The Malta Stock Exchange (MSE) index fell by two per cent in July, to close at 4,470.277 points. Notwithstanding this decline, the index is up by 0.89 per cent year-to-date. Turnover amounted to €5.2m spread across 20 equities of which 12 declined, six gained ground and two closed unchanged.

FIMBank plc shares were the best performers having advanced by $0.095 or 10.3 per cent as 46 deals of 887,375 shares were struck, closing at $1.015. The trade finance bank announced that the Board of Directors will meet on August 9, 2016 to approve the consolidated financial statements for the half-year ended June 30, 2016 and to consider the payment of an interim dividend.

Also on the up side, Lombard Bank Malta plc shares increased by €0.049 or 2.2 per cent across 25 trades of 305,199 shares, to close at €2.249. Similarly, HSBC Bank Malta plc shares edged 0.3 per cent higher as 267,940 shares changed ownership, closing at €1.60 as investors awaited the announcement of the bank's interim financial results.

Bank of Valletta plc shares oscillated between a monthly high of €2.25 and a low of €2.17, to ultimately close at €2.22 and thus registering a 1.2 per cent decline on the month. The banking equity was active on 159 trades of 367,555 shares.

On a negative note, GlobalCapital plc shares headed the list of fallers having declined by 29.9 per cent on a sole transaction of a mere 240 shares executed at €0.35.

Meanwhile, Mapfre Middlesea plc shares followed suit having stumbled by €0.358 from €2.40 to €2.042 over three trades of 1,800 shares. The company reported a drop in profit before tax from €15.2m to €5.7m, when compared to the first six months of 2015. This decline was attributed to a one-off reinsurance cost adjustment in 2015 and stronger returns on financial investments during the first six months of 2015. Earnings per share stood at €0.024. The board of directors did not propose to pay an interim dividend.

GO plc shares fell by €0.06 or 2.1 per cent over 37 deals of 54,396 shares, closing at €2.80.  The telecommunications provider reacted to media comments in relation to the sales process for its shares to Tunisie Telecom (TT), the company stated that extensive due diligence was carried out, legal advice had been obtained and that the process was overseen by international advisors to ensure that no conflicts of interest issues arose. TT has stated to the MFSA and to GO that the parliamentary debate on the acquisition is a standard part of the democratic process in Tunisia and robust measures are in place to ensure arm's length negotiations with Emirates International Telecommunications for its shareholding in GO. TT confirmed its healthy financial condition and that the bid for GO is fully funded. TT also confirmed that it has a strong record of profitability and has consistently posted net profits in past years with significant dividends being paid out to its shareholders.

Furthermore, GO published a press release in which Tunisie Telecom announced that it has received acceptances in respect of over 66 million shares - amounting to 65.4 per cent of the total issued share capital of GO. GO shareholders who have accepted the voluntary bid are entitled to receive a cash consideration of €2.87 per share once the transaction is completed.

Meanwhile, Malta Properties Company plc shares slid 5.2 per cent lower across 36 trades of 147,929 shares, closing at €0.507.

International Hotel Investments plc (IHI) shares registered a decline of €0.05 or 7.1 per cent as 21,190 shares changed ownership, closing at €0.65. Likewise, MaltaPost plc shares declined by 5.5 per cent over six transactions of 55,321 shares, to close €0.11 lower at €1.88.

Malta International Airport plc (MIA) shares extended its recent negative streak having shed €0.05 or 1.2 per cent over 29 deals of 32,313 shares to close at €4.20. The company reported an increase of 9.8 per cent in passenger movements in its traffic results for the six months ending June 30, 2016 when compared to the first half of 2015, recorded in both peak and shoulder months. The increase in passenger movements in the month of June, was attributed to an increase in seat capacity and airlines' efficiency in filling up the available seats. The leading market remains the United Kingdom, followed by Italy and Germany. However, the Turkish and Swiss markets have recorded the largest growth, due to more frequent flights from MIA.  Mr. Alan Borg, CEO announced an upward revision of the original forecasted passenger movements for the year to a total of 4.97 million for 2016.

Furthermore, MIA announced that the Board of Directors is scheduled to meet on August 17, 2016 to approve the Company's Interim Financial Statements for the six months ended June 30, 2016 and to consider the payment of an interim dividend.

In the I.T. sector, Loqus Holdings plc shares were the only positive performers having gained 3.1 per cent on a single deal of 7,461 shares, closing at €0.135.

6pm Holdings plc shares plunged by 10.5 per cent across five trades of 54,298 shares, to close £0.10 lower at £0.85. Meanwhile, RS2 Software plc shares erased June's positive performance having declined by 4.8 per cent, closing €0.10 lower at €2. The equity was active on 132 deals of 790,591 shares, registering the highest turnover for the month of €1.7m.

Plaza Centres plc shares appreciated by €0.03 or 2.8 per cent across three transactions of 10,000 shares, closing at €1.10. The company reported an increase in profits before tax from €777k to €819k, when compared to the first six months of 2015.  Revenue for the period amounted to €1.3m - up by 3.3 per cent from the comparable period of 2015. The company reports that occupancy level also improved and stood at 99 per cent by end of June 2016. Similar occupancy levels are expected for the second half of the year.  Moreover, the Board of Directors did not propose the payment of an interim dividend.

Simonds Farsons Cisk plc shares eased 0.5 per cent lower over six transactions of 3,525 shares, to close €0.03 lower at €6.25. On a similar note, MIDI plc shares inched 0.3 per cent lower as 95,900 shares changed hands across 15 transactions.

The share price of Medserv plc increased by a marginal 0.6 per cent as 29 trades of 81,673 shares were executed, closing at €1.80. The company announced that the board of directors is scheduled to meet on August 26, 2016 to approve the unaudited half-yearly report of the Company for the six months ended June 30, 2016.

Malita Investments plc shares closed the month unchanged at €0.89 as 13 deals of 79,100 shares were negotiated. The company announced that the Board of Directors is scheduled to meet on August 4, 2016 to approve the Company's Interim Financial Statements for the six months ended June 30, 2016 and to consider the payment of an interim dividend.

The other non-movers were Tigne Mall plc shares having closed unchanged at €1.05 - active on a sole transaction of 23,700 shares.

In the corporate bond market 47 issues were active of which 10 gained ground, 26 fell in value and 11 closed unchanged as turnover totalled €4m. The 5.75% Central Business Centres plc Unsecured € 2021 S1T1 was the worst performer having declined by 4.2 per cent, to close at €101.51, while the 6% Island Hotels Group Holdings plc € 2024 headed the list of gainers having increased by 1.9 per cent, closing at €108.

IHI announced that more than €148m subscriptions were received for the issue of the 4% IHI plc Secured Bonds 2026, while MIDI received over €100m for the 4% MIDI plc Secured Bonds 2026.

In the sovereign debt market turnover amounted to €49m spread over 25 issues of which 13 declined and 12 advanced. The 2.5% MGS 2036 (I) was the most liquid issue having witnessed a turnover of €18m, to close 1.2 per cent lower at €105.26.