The MSE Share Index ended the first full week of August with a decline of 1.5% closing at a new 1-month low of 3,041.216 points mainly due to the negative performances of the share price of the two large banks. This week was characterised by very weak trading activity across the equities listed on the Malta stock Exchange with a total of €261,473 worth of shares were exchanged this week. This ranks as the second lowest weekly volume this year.
Bank of Valletta plc failed to hold on to this week’s earlier gains as it slid 3.3% lower today to the €2.08 level during this morning’s session across fifteen trades totalling 37,876 shares. Following this morning’s decline, BOV’s share price ended the week 1.4% lower on volumes of just over 57,700 shares.
Steeper declines were registered in the share price of HSBC Bank Malta plc which ended the week 6.3% lower at the €2.699 level after turning ex-dividend on Monday. A total of 31,325 shares changed hands this week.
On the bond market, the Rizzo Farrugia MGS Index moved a further 0.1% higher to a new 11-month high of 997.343 points (+0.2% over the week) as eurozone yields dropped below the 1.4% level following disappointing economic data published in China. Exports in China grew by just 1% in July as opposed to the forecasted year-on-year growth of 8.6% reigniting concerns over a slowdown in the global economy. Some of the Malta Government Stocks rose to record levels today with the price of the 5.10% MGS 2029 rising to 103.50% compared to the recent offer price of 101%. Likewise, the 5.2% MGS 2031 is also at a record high of 102.90% compared to its previous high of 102.87% registered on 30 December 2011.