HSBC share price declines again

The share price of HSBC Bank Malta plc closed lower for the second consecutive session with a further 1.8% decline back to the €2.72 level across 18,000 shares. Earlier this week the bank reported an increase in profitability for 2012 and a higher dividend payment to shareholders. Although the shares are still trading with the entitlement to the final gross dividend of €0.079 per share until next Wednesday 13 March, the equity traded lower over the past two days.

GO plc’s equity eased minimally lower to €1.399 across two trades totalling 2,100 shares. Similarly, Grand Harbour Marina plc slipped 3.5% back to the €1.91 level on a deal of 1,000 shares as the equity turned ex-dividend. The net interim dividend of €0.12 per share will now be paid on 15 March. In the meantime, the Company is scheduled to publish its 2012 full-year results on 12 March.

On the other hand, the shares of MIDI plc advanced by a further 1.3% to close at the €0.315 level for the first time since mid-July 2012 as healthy volumes were maintained with over 162,000 shares changing hands this morning. The Company is scheduled to hold an Extraordinary General Meeting (EGM) on 22 March to discuss and approve the proposed disposal of ‘The Point’ shopping mall which should free up significant amounts of capital thereby enabling MIDI to pursue the remaining developments projects at Tigne Point and subsequently at Manoel Island.

The share price of 6pm Holdings plc climbed a further 4.7% to a 2-year high of GBP0.45 across five trades totalling 65,884 shares. The IT equity currently ranks as the best performer so far this year with a 45.2% jump since the start of 2013 on the back of a number of new international contracts.

Meanwhile all other active equities ended this morning’s session unchanged. In the financial sector, Bank of Valletta plc held on to the €2.30 level on high volumes of 55,596 shares and Lombard Bank Malta plc continued to trade at the €1.89 level across two deals totalling 20,211 shares. Lower volumes were registered in Middlesea Insurance plc as a trade of 1,000 shares was executed at the €0.90 level.

The only other active equity was Simonds Farsons Cisk plc which also traded unchanged at the €2.60 level across 300 shares.

On the bond market, the Rizzo Farrugia MGS Index trended lower for the second consecutive session with another 0.1% drop to 1,010.117 points as eurozone yields continued to recover to regain the 1.45% level. The uncertainty over the Eurozone, brought about by the political impasse in Italy, is being offset by the confidence generated from the stimulus measures being enacted by various central banks around the world including the European Central Bank (ECB). As such investors’ risk appetite is growing again fuelling demand for riskier asset classes such as equities, some of which are traded at new all-time highs.