Financial equities decline

The share price of Bank of Valletta plc remained under pressure and it closed lower for the second consecutive session with a further 0.5% drop back to the €2.12 level across eleven deals totalling 17,252 shares. The Bank will pay out the interim gross dividend of €0.0425 per share on 23 May.

Similarly, the equity of Lombard Bank Malta plc shed a further 0.7% to a new 9-year low of €1.49 across ten trades totalling just over 15,000 shares.

Also in the financial sector, Middlesea Insurance plc dropped 2.2% back to the €0.90 level on low volumes of 5,638 shares.

These declines led to a 0.2% drop in the MSE Share Index to 3,421.742 points with the other two active equities ending the session unchanged.

HSBC Bank Malta plc held on to the €2.11 level with just 3,000 shares trading during this morning’s session. Likewise, Malta International Airport plc maintained the €2.25 level on almost 5,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged higher for the third consecutive session with a further 0.1% increase to yet another all-time high of 1,040.815 points as Eurozone yields continued to slump back to fresh 1-year lows of 1.31%. This recent decline in benchmark Eurozone yields reflects the increasing pressure on the European Central Bank (ECB) to introduce further stimulus measures in order to counter the region’s weak growth and low inflation.