• Volumes across the equity market were weak today withonly three active equities. The mid-summer season is normally characterised by low trading activity.The MSE Share Index dropped 0.2% to 3,387.532 reflecting the 0.9% decline in the share price of Bank of Valletta plc, while two other equities, HSBC and GO, closed unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index climbed to a new record level of 1,063.636 points reflecting the renewed decline in Eurozone yields to a new all-time low.  German bund yields hit a record low of 1.08% this morning as markets became increasingly anxious over the impact of the Russian counter-sanctions on Europe’s already fragile economic recovery. Russia announced that it will ban all imports of fruit and vegetables from Europe for one year and Russia is the largest buyer of European fruit and vegetables. Last week the EU imposed tough sanctions targeting Russia’s banking, oil and defence sectors.
  • Among the local corporate bonds, the recently listed 5% Tumas Investments plc 2024 traded for the first time and rose by 155bp to 101.55%.
  • Bank of Valletta plc failed to hold on to a high of €2.12 as the equity dropped back to the €2.10 level on overall activity amounting to just under 31,000 shares.
  • The other two equities closed the day unchanged. HSBC Bank Malta plc continued to hold on to the €2.00 level on very low volumes of 721 shares. The gross interim dividend of €0.045 per share declared last Monday will be payable to those shareholders as at close of trading on Monday 11 August.
  • GO plc again maintained the €2.40 level after dropping to a low of €2.36. Activity was also weak with only 2,000 shares changing hands. GO will be publishing its interim results next Wednesday 13 August.


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