The MSE Share Index shed 0.9% to 2,962.875 points as the losses in HSBC and Lombard Bank outweighed the gain registered by GO. Download a copy of the equity market summary here.
On the local bond market front, the Rizzo Farrugia MGS Index edged marginally higher to close at 990.096 points as the Central Bank of Malta adjusted the bid prices higher despite the recovery in the Eurozone yields to the 1.54% level from yesterday’s all-time low of 1.51%. Heavy trading activity continued to take place across a number of Malta Government Stocks.
Following yesterday’s Annual General Meeting and the announcement regarding the transfer of properties which will result in a gain of €11.4 million, GO’s equity edged 2.7% higher to close at €0.75 on increased volumes totalling 28,582 shares. Further details on property transfer available here.
Lombard Bank’s share price extends yesterday’s losses with a drop of a further 0.4% to a new 75-month low of €2.37 on a single trade of 6,064 shares. The drop in Lombard’s equity is possibly as a result of the sharp drop in profits registered at Maltapost plc, which is a subsidiary of Lombard Bank.
HSBC Bank Malta plc also registered a loss as the equity edged 3.1% lower to close at the 2012 low of €2.50 on weak volumes totalling 3,500 shares. Bids amounting to a further 11,700 shares remain outstanding at this level.
Trading activity in the equity of Bank of Valletta plc remained subdued after the equity turned ex-dividend. Only 5,100 shares changed hands across 6 deals at the previous closing price of €2.12. The equity is trading without the entitlement to the gross interim dividend of €0.06 per share will be paid on 24 May.