HSBC and IHI drag MSE Share Index lower

The share price of HSBC Bank Malta plc slipped back into negative territory with a 1% decline to yet another 52-month low of €2.45 across nine deals totalling 50,472 shares. Similarly, the equity of International Hotel Investments plc lost 3.5% to €0.82 on an insignificant deal of 620 shares.

These declines were the main reason for the 0.8% drop in the value of the MSE Share Index to a fresh 4-month low of 3,340.102 points.

Other equities also closed in negative territory with MaltaPost plc easing off its all-time high of €1.105. Today, 11,000 shares traded with the price easing by 0.5% to €1.10.

Tigné Mall plc also shed 1% to close at the €0.51 level on low volumes of 4,000 shares.

On the other hand, Bank of Valletta plc inched 0.2% higher to regain the €2.35 level across four trades totalling just 4,323 shares. Gains were also registered in the IT sector, with RS2 Software plc recovering from an intra-day low of €1.78 to end this morning’s session minimally higher at €1.85 across twelve trades totalling 58,133 shares. Crimsonwing plc also edged 0.7% higher to regain the €0.74 level on just over 6,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.2% higher to 1,021.745 points with Eurozone yields slumping back to the 1.90% level following the unexpected decision by the US Federal Reserve to maintain its asset purchase programme at US$85 billion a month.