During this morning’s trading session, the share index was dragged a further 0.2 per cent lower to a new two-week low of 3,730.432 points following declines in the share prices of the two largest banks.

The equity of Bank of Valletta trended in negative territory for the third consecutive session with a further 0.9 per cent drop back to the €2.21 level across eight deals totalling almost 9,100 shares.

This afternoon, the bank announced that its board of directors is scheduled to meet on April 30 to consider and approve the interim financial statements as at March 31 and to consider the declaration of an interim dividend.

Similarly, HSBC slipped 0.5 per cent back to the €2.02 level across 18 trades totalling 18,740 shares. Yesterday, the bank held its annual general meeting during which shareholders approved all the items on the agenda including the final gross dividend of 2c6 per share and the one for nine bonus issue. The equity will trade with the entitlement to the bonus issue until next Monday.

On the other hand, Malta International Airport trended in positive territory with a 0.9 per cent increase to regain the €3.53 level (just below its all-time high of €3.53,5) on volumes of 31,345 shares.

On the bond market, the Rizzo Farrugia MGS Index inched minimally higher to 1,171.780 points as yields on local sovereign bonds dropped in line with the trend across Eurozone peripheral countries.

On the other hand, the benchmark 10-year German Bund yield strongly rebounded today as it touched 0.161 per cent - its highest level this week.

www.rizzofarrugia.com

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