The share prices of the two large banks traded in opposite directions during this morning’s trading session on the Borza in a session characterised by very mild activity. The MSE Share Index slipped 0.6% lower to 3,146.545 points.
Bank of Valletta plc advanced by a further 0.4% to €2.53 across four trades totalling just over 2,000 shares while HSBC Bank Malta plc slid 2.2% lower to the €2.63 level on a small trade of 293 shares.
GO plc also closed in negative territory as its share price eased by 1.9% to €1.04 on a single trade of 3,000 shares.
On the other hand, the two other active equities closed unchanged. MIDI plc held on to the €0.39 level on one deal of 20,000 shares whilst 2,007 MaltaPost plc shares traded at the €0.98 level. On Thursday 1 December, the postal operator is scheduled to publish its preliminary results for the financial year ended 30 September 2011.
On the bond market, Eurozone yields continued to edge higher this morning as investors remain wary of the region’s sovereign debt crisis. As a result the Rizzo Farrugia MGS Index eased a further 0.1% to 977.895 points. This afternoon Eurozone benchmark yields have breached the 2% level after the Bundesbank (the German Central Bank) had to acquire more than one third of this morning’s €6 billion bond sale by the German Government as investors’ demand only reached €3.89 billion. This reflects the increasing investor concern with respect to the impact on Germany emanating from the region’s crisis.