• The MSE Share Index trended lower for the third time this week with a further 0.4% drop to 3,350.227 points representing a 9.1% drop since the start of the year. Download a copy of the Equity Market Summary. Over the week, the local equity benchmark shed 1.2% largely due to the declines in BOV, HSBC and IHI.
  • On the bond market, the Rizzo Farrugia MGS Index moved a further 0.1% higher to yet another all-time high of 1,048.415 points as Eurozone yields continued to decline to 1.333% in view of further stimulus measures by the European Central Bank (ECB) and the more accommodative stance than expected adopted by the US Federal Reserve. The recently issued 4.3% MGS 2033 bond climbed to 102.99%, representing an increase of 224 bp from the recent offer price of 100.75%.
  • Today’s decline in the local equity benchmark was mainly due to the 0.9% drop in the share price of BOV to €2.10 across eighteen trades totalling 43,135 shares.
  • Similarly, the equity of Middlesea Insurance slumped 4.4% to a new 6-month low of €0.88 on low volumes of 1,352 shares.
  • Island Hotels Group shares also touched a new 2014 low of €0.77 before partially recovering to end this morning’s session at the €0.82 level representing a 3.5% drop from the previous closing price across 5,000 shares.
  • On the other hand, the equity of MIA failed to hold on to an intra-day high of €2.30 but still ended the session marginally higher at the €2.275 level on volumes of just over 4,000 shares.
  • Meanwhile, no change was registered in the share price of HSBC at the €2.07 level after recouping from its 2014 low of €2.05 on low volumes of 3,253 shares.
  • Similarly, Lombard Bank held on to the €1.46 level on a single deal of 548 shares.
  • The only other active equity was GO which maintained the €2.01 level on shallow volumes of 1,500 shares.

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