MSE Share Index slides to 10-week low

The MSE Share Index shed a further 0.4% during this morning’s session to a new 10-week low of 3,602.298 points as the equities of the two large banks remained under pressure.

The equity of HSBC Bank Malta plc shed a further 1.2% to drop back to the €2.42 level (just €0.02 above its 2014 low) across sixteen deals totalling 19,608 shares. The equity is still trading with the entitlement to the final gross dividend of €0.052 per share and will turn ex-dividend as from Thursday 13 March. Moreover, shareholders as at the close of trading on 24 April will also be entitled to a 1 for 9 bonus share issue.

Similarly, the share price of Bank of Valletta plc touched a new 2014 low of €2.34 before partially recovering to end the session at the €2.35 level which still represents a 0.4% decline from the previous close. This month marks the end of the Bank’s first half of its current financial year with the interim results generally published by the end of April.

The only other negative performing equity was Grand Harbour Marina plc with a single trade of 1,000 shares changing hands at a new 2014 low of €1.82 representing a 1.6% drop from the previous closing price.

On the other hand, the share price of RS2 Software plc edged marginally higher to regain the €2.37 level on volumes of 25,500 shares.

Meanwhile, the only other active equity was Crimsonwing plc as 19,147 shares traded unchanged at the €0.81 level.

On the bond market, the Rizzo Farrugia MGS Index was relatively unchanged at 1,027.518 points despite the rebound in the benchmark 10-year Eurozone yields to the 1.60% level after Russia’s President Vladimir Putin stated that there is no need for military action in Ukraine at this stage.