• Today, the MSE Share Index declined by 0.2% to 3,357.175 points as declines in the share prices of BOV and HSBC offset the gains in MIA and GO. Meanwhile, no change in the share price of Lombard Bank. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 1,078.744 points reflecting the increase in the bid prices of the longer-term MGS by the Central Bank of Malta stockbroker. This is against the trend in the benchmark Eurozone yields which remained above the 1% level as risk-appetite resurfaced following the European Central Bank’s decision to cut interest rates and initiate an asset purchase programme aimed at asset-backed securities (mortgage-backed loans) and covered bonds.
  • The record passenger movements being registered by MIA continued to support the equity during this morning’s session with the share price advancing by 2.2% to regain its all-time high of €2.35 across three deals totalling 12,850 shares. Last week MIA announced a further 8.6% increase in passenger movements during the month of August to an all-time high of 551,179.
  • Similarly, GO inched minimally higher to set another 6-year high of €2.499 albeit on low volumes of 2,500 shares.
  • On the other hand, BOV shares only partially recovered from an intra-day low of €2.25 to end the session 0.4% lower at the €2.261 level across 10,468 shares.
  • Similarly, HSBC’s equity retreated by 1% back to the €2.02 level on just 2,777 shares.
  • Meanwhile, the only other active equity, Lombard Bank, traded unchanged at the €1.60 level on a single deal of 6,493 shares.
  • All three banking equities have been under pressure this year in view of the numerous challenges, namely regulatory and low interest rate environment, being faced by the industry participants. In fact, BOV’s share price has slid 6.1%, HSBC’s equity slumped 13.7% and Lombard’s shares retreated by 7.2% since the start of 2014.

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