• The MSE Equity Price Index trended in negative territory for the third consecutive day with a decline of a further 0.2% to 4,383.992 points largely reflecting the weakness in the share prices of Bank of Valletta plc, HSBC Bank Malta plc and Lombard Bank Malta plc. On the other hand, RS2 Software plc, MIDI plc and Mapfre Middlesea trended higher whilst a further eight equities closed the session unchanged. Trading volumes improved today with more than €0.42 million worth of shares changing hands. Download a copy of today’s Equity Market Summary.
  • Following two consecutive sessions of declines, the RF MGS Index edged 0.1% higher to 1,099.686 points as peripheral eurozone yields, including those of Spain and Italy, moved lower after the newly appointed Finance Minister in Italy categorically denied that the government had plans to exit from the eurozone. On the other hand, the benchmark 10-year German Bund yield regained the 0.5% ahead of the European Central Bank (ECB) meeting on Thursday 14 June. During the meeting, the ECB is expected to officially announce the end of its asset purchase program. A day before, the US Federal Reserve it’s expected to announce yet another rate hike in line with its monetary policy tightening plans.
  • Bank of Valletta plc drifted lower for the first time in seven sessions with a 0.9% drop back to the €1.745 level across 28 deals totalling 111,306 shares. Yesterday, BOV denied media reports that €393 million worth of assets have been seized in Italy. BOV further reiterated that on its own initiative it placed €363 million with another bank, pending the appeal proceeding of the “sequestro conservattivo” issued against BOV in March. However, these assets still belong to BOV and are held in the bank’s own name and for its own benefit.
  • Similarly, HSBC Bank Malta plc’s share price drifted 1.1% lower to €1.81 level albeit on shallow volumes of 7,205 shares. This morning, HSBC Holdings plc presented an update to its business strategy during which the CEO laid out the growth plans of the group for the coming years. During the presentation, the CEO made no reference to any closures in any jurisdictions despite rumours published earlier this year on the potential exit from Malta.
  • Lombard Bank Malta plc also closed 1.7% lower at €2.26 although on just a single trade of 418 shares.
  • On the other hand, RS2 Software plc edged 0.9% higher to recapture the €1.15 level on volumes of 13,700 shares.
  • MIDI plc advanced by 2.4% to regain the €0.43 level on strong volumes of 225,000 shares.
  • The only other active equity was Mapfre Middlesea plc with a 2.1% uplift to €1.94 on low volumes of 6,624 shares.
  • Meanwhile, no changes took place in the share prices of the other eight active equities including Malta International Airport plc, GO plc and International Hotel Investments plc amid shallow volumes.

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