The local equity market closed in negative territory for the second consecutive day. The MSE share index declined by 0.2 per cent to 3,355.587 points as the large cap banks continued to weaken.

Bank of Valletta closed this morning’s session 0.6 per cent lower at €2.08, on weakening volumes of 18,108 shares.

Similarly, HSBC closed minimally lower at the €2.00,1 level on a single trade of a 2,000 shares. HSBC will be publishing its interim financial statements on Monday.

Shallow volumes were also evident in Simonds Farsons Cisk plc, with the equity shedding 3.4 per cent lower at the €2.85 level on a single trade of 417 shares.

Meanwhile, the only equity to perform positively today was Go plc, which edged 0.85 per cent higher to reach another multi-year high of €2.38. 5,000 shares traded today as the market awaits further developments regarding Forthnet.

All the other active equities closed the day unchanged. The highest activity was registered in RS2 Software plc as a total 54,662 traded at the €2.55 level.

Meanwhile, Middlesea Insurance plc (86 shares at 87c), Malta International Airport plc (3,800 shares at €2.30) and MaltaPost plc (2,899 shares at €1.12) also closed unchanged.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1 per cent higher, reaching a new all-time high of 1,060.601 points as Eurozone yields slumped to a fresh all-time low of 1.12 per cent as tensions in the East continued to intensify.

Japan joined other countries as it also imposed its first sanctions on Russia whilst the US, Germany, UK, France and Italy widened their sanctions on Russia.

www.rizzofarrugia.com

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