HSBC recovers towards the €2.00 level

The equity of HSBC Bank Malta plc continued to recover and advanced by a further 1.7% today to regain the €1.999 level on higher volumes of 21,146 shares. HSBC’s equity had dropped to a low of €1.92 last Tuesday.

Meanwhile, trading activity in Bank of Valletta plc was very weak indeed with only 833 shares changing hands at €2.24 representing a 0.4% decline from last Friday’s close. Investors now await the long-anticipated results of the Asset Quality Review (AQR) conducted by the European Central Bank (ECB) due on 26 October as well as the BOV’s preliminary results for the financial year ended 30 September 2014 scheduled to be published on Friday 31 October.

Medserv plc also continued to edge higher with an increase of a further 0.8% to €1.33 across 5,000 shares. Meanwhile, GO plc eased by 0.4% from its 6-year high of €2.67 after only partially recovering from an intra-day low of €2.63 on continued weak activity of 2,187 shares. Similarly, the share price of MaltaPost plc shed 1% back to the €1.109 level for the first time since late May. A total of 9,370 shares changed hands today.

Meanwhile, the only other active equity was Malta International Airport plc as it held on to the €2.35 level across two deals totalling 12,960 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,093.476 points as benchmark Eurozone yields slipped back to 0.842% after the European Central Bank (ECB) injected fresh liquidity into the system with the commencement of its third covered bond purchases programme.