HSBC’s decline pushes Index back into negative territory

The MSE Share Index moved back into negative territory during this morning’s session with a 0.3% drop back to 3,343.021 points level largely due to the 1% drop in the share price of HSBC Bank Malta plc. The bank’s equity slipped back to the €2.05 level after failing to hold on to an intra-day high of €2.09 (compared to the previous closing price of €2.07). Only 8,815 shares changed hands today.

The equity of GlobalCapital plc also closed in negative territory with a 12.1% plunge back to the €0.659 level on shallow volumes of 1,200 shares.

On the other hand, the share price of Plaza Centres plc edged 1.8% higher to regain the €0.57 level on a single trade of 6,000 shares.

Meanwhile, no change was registered in the share price of Malita Investments plc with 180,000 shares changing hands at the €0.55 level.

On the bond market, the Rizzo Farrugia MGS Index extended its recent positive trend as it exceeded the 1,050-points level for the first time. The local MGS benchmark edged 0.2% higher today to 1,050.488 points as the Central Bank of Malta raised its bid prices for the medium and long-term stocks although Eurozone yields were relatively unchanged at the 1.325% level. On the secondary market, the recently issued 4.3% MGS 2033 bond also continued to advance to new highs as it reached the 104% level, representing an increase of 325 basis points (compared the recent offer price of 100.75%) in just over three weeks.