The share index declined for the fourth successive session with a drop of a further 0.7 per cent to a fresh 12-week low of 3,286.92 points as most of the active equities retreated.

Most notably, the share price of Bank of Valletta shed 1.8 per cent back to the €2.20 level across nine trades totalling 63,810 shares.

Also in the financial sector, Lombard Bank Malta ended this morning’s session 1.1 per cent lower at €1.73 after only partially recovering from an intra-day low of €1.71 on shallow volumes of 1,145 shares.

FIMBank plc tumbled by 4.8 per cent back to its all-time low of 60cUS following yesterday’s interim directors’ statement which highlighted the adverse impact of further unquantified impairments across the operating companies of the group. A total of 9,692 shares changed hands today.

On the other hand, the only positive performing equity was MaltaPost plc with a 0.9 per cent increase to regain the €1.19 level on a single trade of 2,659 shares. The postal operator is expected to publish its interim financial statements in the coming weeks.

Meanwhile, the share price of HSBCfailed to hold on to an intra-day high of €1.97 to end the session unchanged at the €1.95 level (just 5c above its 2014 low) on marginal volumes of 9,398 shares.

Similarly, Malita Investments ended the session unchanged at its all-time high of 60c across a deal of 12,100 shares.

On the bond market, the Rizzo Farrugia MGS Index eased minimally lower to 1,092.066 points as Eurozone yields rebounded to just below the 0.8 per cent level on the back of some increased risk appetite.

The president of the European Central Bank, Mario Draghi, explained that the ECB stands ready to do more if needed including the acquisition of government bonds.

Furthermore, Mr Draghi explained that although the overall picture remains bleak for the Eurozone, the region’s credit dynamics seem to have reached a turning point.

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