Equities flat ahead of HSBC results

This morning’s trading session on the Malta Stock Exchange was characterised by low trading activity as investors remained on the side-lines in anticipation of the publication of the 2010 full-year results of HSBC Bank Malta plc due tomorrow afternoon. Only three equities were active today with the total value of trades amounting to only €80,196. This contrasts with the high volumes transacted over recent days. As the three active equities all maintained their previous closing price levels, the MSE Share Index closed the day unchanged at 3,839.436 points.

4,500 HSBC shares traded at the €3.499 level. After the close of tomorrow’s trading session, HSBC will be holding a press conference and stockbrokers meeting to announce its 2010 financial statements and declare a final dividend to shareholders.

Bank of Valletta plc’s equity also maintained the €3.05 level but the share price was volatile this morning as it hit a low of €3.02 on total activity amounting to 20,878 shares.

The only other active equity, MaltaPost plc, held on to its all-time high of €1.10 on a single trade of 900 shares. Further offers remained unsatisfied at the closing price with best bids still pitched at €1.074.

Yesterday marked the closing of subscriptions by the General Public for the two new Malta Government Stocks. Tenders for over €100,000 (nominal) will be accepted until tomorrow at 12 noon. Following yesterday’s sharp decline in the Eurozone benchmark yield, the Central Bank of Malta Stockbroker today revised bid prices upwards resulting in a 0.2% rise in the Rizzo, Farrugia MGS Index to 981.028 points.

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