HSBC and Lombard test new 2010 lows

During this morning’s session HSBC Bank Malta plc tested a new 2010 low of €2.789 before recovering to close unchanged at the €2.798 level. Over 11,200 shares changed hands today. Meanwhile a single trade of 2,000 Lombard Bank Malta plc shares was transacted at a fresh 11-month low of €2.65 with offers already placed lower at the €2.645 level.

On the other hand, Bank of Valletta plc maintained the €3.24 level ahead of the Bank’s full-year results publication expected by the end of the month. 6,300 shares traded this morning.

Among the positive performers, GO plc edged 0.5% higher to close at €1.85 after also recovering from an intra-day low of €1.815 while Grand Harbour Marina edged 1% higher to its 2010 high of €1.98 on a single trade of 1,000 shares. Last week a total of 47,090 GHM shares traded at the €1.96 level.

Meanwhile MaltaPost plc shares continued to be exchanged at the 2010 high of €0.90 level but volumes remained low on lack of further supply. Further bids remain unsatisfied in the market at the last traded price.

On the bond market, Malta Government Stock prices declined as the Central Bank of Malta stockbroker again reduced its bid prices as the benchmark 10-year Eurozone yield continued to rise reaching almost the 2.40 level. The 4.6% MGS 2020 (II) shed 27 basis points to 105.88% with the 20-year MGS down to 102.82%.

On the primary bond market, preferred applicants in FIMBank’s bond offering have until next Friday 22 October to submit their application and avail themselves of the guaranteed minimum allotment and preferential price of 99%. Further details on this euro and US Dollar denominated bond issue is available at https://rizzofarrugia.com/news-events/2010/details-of-new-bond-issue-6/.

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