HSBC drags MSE Share Index lower

Following six consecutive sessions of increases, the MSE Share Index slipped 0.2% lower today to 3,346.458 points mainly due to the 1% drop in the share price of HSBC Bank Malta plc. The Bank’s equity continues to trade within a narrow range of between €1.98 and €2.00. This morning HSBC dropped back to the €1.98 level on volumes of 29,225 shares.

Following the 4.2% jump to fresh 2014 high of €0.615, the equity of Plaza Centres plc eased 0.8% back to the €0.61 level across four deals totalling 25,000 shares.

On the other hand, the share price of Malta International Airport plc inched minimally higher to €2.35 across six trades totalling 16,000 shares.

Loqus Holdings plc also closed in positive territory and moved a further 9.5% higher to regain the €0.115 level on a single trade of 3,139 shares. Loqus is the only equity listed on the Alternative Companies List (ACL).

Meanwhile, no change was registered in the equities of the other two retail banks. Bank of Valletta plc held on to the €2.26 level on low volumes of 8,622 shares and Lombard Bank Malta plc maintained the €1.699 level on volumes of 10,000 shares.

GO plc shares recovered from an intra-day low of €2.56 to end the session unchanged at its 6-year high of €2.60 across 9,000 shares.

Likewise, 25,000 Medserv plc shares traded unchanged at the €1.275 level and MaltaPost plc held on to the €1.12 level across 6,000 shares.

On the bond market, the Rizzo Farrugia MGS Index moved 0.1% higher to yet another all-time high of 1,089.398 points as Eurozone yields continued to retreat back to the 0.90% level ahead of the European Central Bank (ECB) meeting. This afternoon, the ECB announced that it maintained interest rates unchanged at the historically low level of 0.05%. Investors are now awaiting the customary press conference by the ECB President Mario Draghi in search of more details on the asset purchase programme it is scheduled to launch this month.