Declines in HSBC and GO offset marginal rebound in IHI

The MSE Share Index retreated for the second consecutive session with a further 0.1% drop to 3,307.829 points on further selling pressure across the shares of HSBC Bank Malta plc and a 3.1% decline in the share price of GO plc.

The Bank’s equity slipped 0.5% lower to the €1.96 level across six deals totalling 54,446 shares. The banking industry is being impacted by stricter regulation and a challenging environment due to the low interest rate scenario.

Similarly, GO plc continued to retreat from its 6-year high with a further 3.1% drop back to the €2.52 level albeit on low volumes of 4,800 shares.

On the other hand, the share price of International Hotel Investments plc rebounded from near its all-time lows for the second time this week with a further 2.8% rise to regain the €0.56 level across 11,000 shares.

MaltaPost plc advanced by 0.9% to €1.18 on a single trade of just over 2,000 shares. The postal operator is expected to publish its preliminary full-year results in the coming weeks.

Meanwhile, Bank of Valletta plc traded unchanged at the €2.25 level across ten deals totalling 13,210 shares. The shares of BOV will trade with the entitlement to the final gross dividend of €0.0925 per share until next Thursday 13 November.

Likewise, the equity of Malta International Airport plc ended the session unchanged at the €2.33 level after recovering from an intra-day low of €2.30 on volumes of 14,912 shares.

On the bond market, the Rizzo Farrugia MGS Index eased marginally lower to 1,091.087 points, as benchmark Bund yields regained the 0.83% level as markets were sceptical whether the European Central Bank (ECB) will announce further stimulus measures. In fact, as expected, this afternoon the ECB announced that it decided to hold its reference interest rate unchanged at the historically low of 0.05% and fell short of announcing further stimulus measures.

Locally, PTL Holdings plc yesterday issued a formal notice with respect to a new €36 million unsecured bond carrying a coupon of 5.1% and maturing in 2024. PTL Holding has three main subsidiaries, namely: SAD (the largest Apple distributor in Poland), APCO (provides electronic payments transaction processing services under the brand name APCOPAY and supplies ATMs, POS terminals, plastic cards as well as other cash-handling equipment) and PTL (a multi-branded IT solutions provider).