HSBC share price at 8-month low

Various equities were active during this morning’s trading session with the MSE Share Index shedding 0.5% to end the day at 3,307.578 points largely on account of the 2.3% decline in the share price of HSBC Bank Malta plc. The equity dropped to its lowest level since August 2012 on increased volumes amounting to 41,920 shares with the share price closing at €2.60.

Meanwhile, Bank of Valletta plc held on to its 2013 high of €2.30 with a further 11,567 shares changing hands at this level. Last Thursday afternoon, the BOV Group announced that it registered a 31.5% increase in pre-tax profits to €64.6 million and the bank declared a gross dividend of €0.06 per share to shareholders as at close of trading on 6 May. Further shares remain on offer at the €2.30 level.

Also in the banking sector, Lombard Bank Malta plc and FIMBank plc both closed the day unchanged at €1.95 and USD1.00 respectively. FIMBank will be convening its Annual General Meeting on Thursday evening.

Among the positive performers, GO plc edged 0.3% higher to the €1.585 level with Malta International Airport plc gaining 2.1% to close at €1.92. RS2 Software plc continued to recover from Thursday’s decline and advanced by a further 2% to regain its all-time high of €1.02. Last week, the company reported a 32.5% increase in pre-tax profits to €3.15 million and the Directors recommended the payment of a net dividend of €0.025 per share and a 1 for 16 bonus share issue.

Meanwhile, Island Hotels Group Holdings plc slumped 8.3% to a fresh all-time low of €0.55 on volumes of 15,200 shares.

On the bond market, the Rizzo Farrugia MGS Index traded up to yet another new all-time high of 1,023.139 points as the Central Bank increased its indicative bid prices for many MGS to fresh highs.