HSBC share price adjusted for bonus issue

The share price of HSBC Bank Malta plc was adjusted for the 1 for 9 bonus share issue which was eligible to shareholders as at close of trading yesterday. These additional shares will now be distributed to all shareholders next Tuesday 29 April. Today’s closing price of €2.15 represents a marginal increase of 0.4% over yesterday’s adjusted price of €2.142.

All other active equities today closed unchanged with the exception of FIMBank plc which dropped back to US$0.765 on a single trade of only 1,000 shares.

Bank of Valletta plc held on to the €2.30 level on volumes of 14,600 shares. As the market closed, the Bank issued its interim results covering the six months ended 31 March 2014. The BOV Group registered a profit before taxation of €50.7 million for the first half of their 2013/14 financial year, a decrease of 21 per cent when compared to the pre-tax profit of €64.6 million earned in the first six months of the previous financial year. The drop is largely attributable to lower net interest income, a reduction in fair value movements as well as a lower contribution from insurance operations. A gross interim dividend of €0.0425 (-22%) was declared to those shareholders as at close of trading on 5 May.

Simonds Farsons Cisk plc traded again at its all-time high of €3.000 although on very weak volumes. Next Wednesday Farsons will be publishing its financial statements for the year ended 31 January 2014.

Also next week, MIDI plc will be publishing their 2013 financials on Monday and Grand Harbour Marina plc must follow by the deadline of Wednesday 30 April.

On the bond market, the Rizzo Farrugia MGS Index continued to reach new record levels as yields resumed their downward trend after the ECB President strongly hinted at additional stimulus to counteract weak inflation and the continued strengthening of the euro. The Index edged minimally higher to 1,034.49 points representing a year-to-date increase of 1.65%. Most Malta Government Stock prices with a maturity above 2019 are currently priced at their respective all-time highs.