The share price of HSBC continued to decline and tumbled by 2.3 per cent to a fresh four-week low of €1.80 across 20 deals totalling 57,812 shares. The decline in HSBC’s share price offset the gains registered in four other active equities leading to a marginal decline in the share index to 3,783.236 points.
One of the positive performing equities was GO with a 0.3 per cent uplift to recapture the €3 level across six deals totalling 18,910 shares.
Similarly, the share price of RS2 Software inched minimally higher to close this morning’s trading session at the €3.18 level on volumes of 8,548 shares. The company is scheduled to hold its annual general meeting on June 9.
FIMBank’s equity also trended in positive territory today with a two per cent uplift to regain the 46cUS level on a single trade of 5,572 shares. Yesterday, the trade finance specialist issued its interim directors’ statement reiterating that management is currently implementing the turnaround strategy in order to return the group to sustainable profit levels within a relatively short time frame.
Nonetheless, in 2015, the group is expected to incur some additional charges in connection with the discontinuance of the Russian factoring business.
Furthermore, the group’s Indian factoring business was also hit by new impairments largely related to legacy issues. The Group also incurred some relatively small increases in net impairments at bank level.
However, the overall impairment charge for the first few months of 2015 is in line with budgets.
The only other positive performing equity was Santumas Shareholdings with a 0.3 per cent increase to regain the €2 level on shallow volumes of 5,000 shares.
Meanwhile, Bank of Valletta maintained the €2.30 level on low volumes of 6,070 shares. Likewise, insignificant volumes were transacted in Lombard Bank Malta and Mapfre Middlesea as both equities held on to their respective previous closing prices.
Also, Malta International Airport held on to the €3.45 level on volumes of 2,470 shares. This morning, the airport operator held its annual general meeting during which shareholders approved all the items on the agenda including the final gross dividend of 12c31 per share which will now be distributed on June 8.
Malita Investments also held on to its previous closing price of 80c across two deals totalling 17,000 shares.
Likewise, MaltaPost traded again at its all-time high of €1.50 on an insignificant trade of 187 shares.
On the bond market, the Rizzo Farrugia MGS Index edged a further 0.1 per cent higher to 1,149.179 points as the benchmark 10-year Eurozone yield remained under pressure after the European Central Bank yesterday revealed that it is planning to accelerate its monthly purchases in May and June in view of lower liquidity levels that are generally evident during the summer months.
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