Eurozone yields rallied today amid increasing speculation that the European Central Bank will further increase its intervention rate at tomorrow’s monthly monetary policy meeting. The benchmark 10-year Eurozone yield surpassed the 3.3% level forcing the Rizzo Farrugia MGS Index to decline by 0.2% to 973.235 points, representing a 1.95% drop since the start of the year. The largest decline was registered in the 5.25% MGS 2030 (I) (-33 basis points) which was priced by the Central Bank of Malta Stockbroker at 101.62%. Tomorrow afternoon the Treasury will be announcing the prices of next week’s new MGS offering.
On the local equity market, the MSE Share Index retreated by another 0.2% to 3,350.675 points mainly due to the 0.4% decline in the share price of Bank of Valletta plc to the €2.88 level. GO plc also closed in negative territory with a 0.7% drop back to the €1.33 level across seventeen trades totalling 38,650 shares. Fresh sell orders also pushed FIMBank plc’s share price down 0.6% lower to a new 68-month low of US$0.865 on a single trade of 1,675 shares.
A single trade of 7,377 Simonds Farsons Cisk plc shares was transacted at the €1.80 level, representing a 2.2% decline from the previous close. Low volumes were also registered in MaltaPost plc with the share price edging 0.8% lower to close at the €1.08 level.
Meanwhile HSBC Bank Malta plc closed unchanged at the €3.00 level across eight trades totalling 18,500 shares. Similarly, Middlesea Insurance plc held on to the €0.95 level on volumes of just under 1,400 shares. The other active equity, RS2 Software plc, also ended today’s session unchanged as a further 44,900 shares traded at the €0.50 level. The equity will trade ex-dividend as from 11 May.