HSBC and BOV trade in opposite directions

The share price of HSBC Bank Malta plc 1.5% higher to regain the €2.74 level across two trades totalling 2,400 shares. Meanwhile, Bank of Valletta plc eased 0.2% lower to €2.27 on volumes of 14,300 shares across nine trades.

Elsewhere in the local equity market, Middlesea Insurance plc jumped 4.8% to close at the €0.85 level on volumes of 16,720 shares. Similarly, the equity of Island Hotels Group Holdings plc climbed 4.5% higher to recapture the €0.56 level on a single deal of 5,000 shares.

In the IT sector, 6pm Holdings plc edged a further 1.6% higher to close today’s session at the GBP0.62 on volumes of 5,600 shares. In a letter to shareholders attached to last week’s final dividend payment, both the Chairman and the CEO explained that, as revealed in the Annual General Meeting, the Group is registering positive results during the first half of the year and this trend is expected to continue throughout the remainder of 2013.

Meanwhile, Crimsonwing plc held on to the €0.58 level across 30,696 shares ahead of the Group’s full-year results publication covering the financial year ended 31 March 2013. In its latest announcement, Crimsonwing had indicated that revenues for the aforementioned period grew by 15% to just under €18 million. Furthermore, the Directors noted that the performance of the second half was broadly similar to the first half when the Group registered a pre-tax profit of €0.55 million.

Similarly, no changes were registered in the share prices of the three other active equities amid shallow volumes. Simonds Farsons Cisk plc held on to the €2.76 level on a small deal of 504 shares whilst Malita Investments plc maintained the €0.50 level across 2,000 shares. The only other active equity, Grand Harbour Marina plc also ended the session unchanged at the €1.95 level on a deal of 3,000 shares.

On the bond market, the Rizzo Farrugia MGS Index slipped 0.1% lower to 1,019.267 points as the benchmark 10-year Bund yield this morning moved higher to regain the 1.75% as the prospects of a reduction in the US Federal Reserve stimulus measures continues to weigh down on investor sentiment. However, by this afternoon yields eased to the 1.74% following the publication of Eurozone manufacturing data signalling stabilisation across the 17-nation bloc.