Today, the Malta Stock Exchange re-opened its doors following the short Christmas break and the share price of HSBC Bank Malta plc shed 3.1% to drop back to its 2011 low of €2.50. This was the main contributor to the 0.6% decline in the MSE Share Index as the losses in the largest cap offset the smaller gains in International Hotel Investments plc (+1.7%) and MaltaPost plc (0.5%).
Following the 4.2% gain registered last week, the share price of MaltaPost plc edged minimally higher to regain the €1.00 level on further demand for the equity. A total of 22,137 shares changed hands today with further bids remaining unsatisfied at €1.00 and lowest offers now at €1.085. The postal operator last week published its Annual Report in anticipation of the Annual General Meeting being held on 17 January. During the AGM shareholders will be asked to consider and approve a number of resolutions including the final net dividend of €0.04 per share and the scrip dividend option with an attribution price of €0.98 per share.
Meanwhile, Bank of Valletta plc closed the day unchanged at the €2.50 level for the third consecutive trading session on volumes of less than 13,000 shares. The equity traded up to an intra-day high of €2.519 level but dropped back to the €2.50 level on lack of support and fresh offers entering the market. The bank’s shares are still trading with the entitlement to the approved 1 for 8 bonus issue. The equity will trade ex-bonus as from 10 January.
Meanwhile on the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 986.808 points as the Central Bank of Malta Stockbroker raised its Malta Government Stocks bid prices this morning. The price of the 5.20% MGS 2031 closed at a new all-time high of 103% as a total of €270,400 (nominal) traded.