HSBC share price up a further 1.5%

The equity of HSBC Bank Malta plc (the largest local equity by market capitalisation) closed higher for the second successive session. Following yesterday’s 1.8% gain to €2.749, the equity advanced by a further 1.5% today to €2.79 but volumes remained relatively low with 6,135 shares changing hands during this morning’s session. HSBC is due to report its 2012 full-year financial results in 2 months’ time.

GO plc shares also closed in positive territory today as the equity edged 0.4% higher to regain the €1.195 level which is just below GO’s 2012 high of €1.20 reached in mid-July. The market continues to await GO’s decision whether it will be supporting the €30 million rights issue by Forthnet.

Fresh demand also helped the share price of Malita Investments plc to edge 2% higher to regain the €0.51 level across two trades totalling 12,970 shares.

Meanwhile, the share price of Bank of Valletta plc eased 0.2% lower to €2.425 across thirteen trades totalling 29,129 shares. BOV’s equity had traded up to an intra-day high of €2.435 during the start of this morning’s session as new bids entered the market ahead of the 1 for 9 bonus share issue. Shareholders as at close of trading on 14 January will be entitled to the bonus shares.

On the other hand, Crimsonwing plc held on to the €0.54 level on a single trade of 1,000 shares. Similarly, MaltaPost plc closed unchanged at the €0.85 level on volumes of 800 shares and its largest shareholder, Lombard Bank Malta plc maintained the €1.86 level across 2,500 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,005.038 points as the Central Bank of Malta Stockbroker increased its bid prices for 5-year MGS’s despite a rise in Eurozone yields. The benchmark 10-year German Bund yields surpassed the 1.5% level this morning as investors shifted focus on riskier bonds after last night’s publication of the minutes of the recent US Federal Reserve meeting which indicated the unwillingness of its members to further extend the asset purchase programme. Moreover investor sentiment was further boosted by expectations of positive US economic data expected in the afternoon.