Yesterday’s uplift in the share index was short lived as the local equity benchmark slipped back into negative territory during this morning’s session with a 0.3 per cent drop back to 3,782.529 points as four of the five largest equities by market capitalisation declined.
Most notably, the share price of Bank of Valletta trended lower for the fourth time in the last five sessions with a further minimal decline to €2.27,9 across 12 deals totalling 14,614 shares.
Similarly, the equity of HSBC retreated by 0.5 per cent to €1.87 albeit on lower volumes of 5,300 shares.
International Hotel Investments also performed negatively with a 1.4 per cent drop back to the 69c level on a single trade of 10,000 shares.
Yesterday afternoon, IHI published its interim directors’ statement updating the market on its performance during the first quarter of 2015. During the period under review, the IHI-owned hotels and the 50 per cent associate Corinthia London Hotel continued to perform better than in the previous corresponding period excluding the hotels in Tripoli and St Petersburg where external force majeure factors continued to affect demand for accommodation.
The only other negative performing equity was GO with a 0.6 per cent decline across 24,000 shares. The group recently announced that it is currently considering various options for its property portfolio as the property subsidiary plans to develop two business centres, one in Marsa and one in Birkirkara.
On the other hand, a single trade of 15,000 shares of 6pm Holdings was executed at the 75p level representing a 1.4 per cent increase over the previous closing price.
Plaza Centres edged up by 0.6 per cent to 95c1 on high volumes of 100,000 shares. The company is scheduled to hold its annual general meeting on May 27.
Meanwhile, Malta International Airport maintained the €3.46 level on shallow volumes of 3,170 shares. The airport operator is scheduled to hold its annual general meeting on May 20.
Low trading activity was also evident in the equity of RS2 Software as 1,100 shares traded unchanged at the €3.16 level. This afternoon, the company issued a press release revealing that it has concluded an agreement with Viet Capital Bank to provide card transaction services.
Meanwhile, higher volumes were transacted in Malita Investments as 43,500 shares traded at the 88c level, unchanged from the previous closing price.
On the bond market, the Rizzo Farrugia MGS Index slumped 0.4 per cent to 1,145.033 points as the recovery in the benchmark 10-year Eurozone yields gained momentum to recapture the 0.72 per cent level by this afternoon.
The sell-off in bonds across the single currency bloc intensified today in view of improving inflation expectations as well as some relief over Greece as negotiations seem to be progressing and the country paid its dues to the International Monetary Fund.
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