The share index shed 0.5 per cent to 3,321.763 points due to the declines in the share price of the two large banks.

As Bank of Valletta started trading ex-div, the equity declined by 1.8 per cent to €2.24 across 13 deals totalling 18,786 shares. The dividend will now be paid out on December 18 subject to shareholder approval at the upcoming annual general meeting scheduled for December 17.

Similarly, HSBC edged 0.2 per cent lower to the €1.97 level across six deals for a total of 20,620 shares.

Shortly after the closing of today’s session, the local banking group issued an interim directors’ statement explaining that since June 30, pre-tax profits continued to decline given the reduced level of income from lending activities on prevalent low interest rate scenarios and an adverse environment for the insurance business as well as increased compliance related expenses, regulatory costs and impairment charges.

The directors, however, reiterated that the bank wasadequately capitalised and liquid.

On the other hand, the shares of Malita Investments plc gained 3.5 per cent, reaching a fresh all-time high of 60c across three deals for a total of 27,000 shares.

Meanwhile, the shares of International Hotel Investments and FIMBank traded at unchanged price levels across single trades. IHI held on to the 56c level across 7,200 shares while FIMBank continued to trade at the 63cUS level on volumes of just 1,000 shares.

On the bond market, the Rizzo Farrugia MGS Index reversed yesterday’s 0.1 per cent decline to regain the 1,091.558 points level as Eurozone benchmark yields were once again below the 0.79 per cent despite the better than expected 0.2 per cent growth in Eurozone’s gross domestic product during the third quarter of 2013.