Yesterday’s rebound in the share index was short-lived as the local equity benchmark slipped by 0.38 per cent during this morning’s session to a fresh two-week low of 4,464.134 points largely due to the declines in BOV, HSBC and IHI.
After holding on to the €1.70 level for three consecutive sessions, HSBC's share price slid 1.2 per cent back to an almost one-year low of €1.68 across 14 deals totalling 26,812 shares.
The bank is scheduled to publish its 2015 preliminary financial statements on February 22. Meanwhile, media reports yesterday morning confirmed that the bank reached a deal on a new collective agreement for its employees.
Bank of Valletta's equity reversed yesterday’s increase with a likewise 0.4 per cent drop during this morning’s session back to the €2.23 level on volumes of 41,266 shares.
International Hotel Investments also performed negatively with a 0.7 per cent decline back to the 73c level across a single trade of 5,000 shares.
MaltaPost also retreated by 2.1 per cent back to the €1.81,1 level on volumes of 1,040 shares. On Friday, the postal operator is scheduled to settle its dividend either in the form of new shares or in cash at 4c (net) per share.
The only other negative performing equity was Malta Properties Company with a 3.5 per cent decline to 55c albeit on small deal of just 50 shares.
On the other hand, the share price of Malta International Airport plc regained its all-time high of €4.50 across five deals totalling 30,230 shares. The airport operator is scheduled to publish its preliminary full-year results on February 24.
The directors will also consider the recommendation of a final dividend. On Friday, the company published its January 2016 traffic results showing a 13.2 per cent growth in passenger numbers to a new record of 236,552 passengers.
Likewise, new bids lifted the share price of RS2 Software plc by 0.5 per cent to €3.32,5 across two deals totalling 5,000 shares.
On the bond market, the RF MGS Index slumped by 0.5 per cent to a four-week low of 1,134.936 points as the bid prices quoted by the stockbroker of the Central Bank of Malta declined further.
This was in line with the continued rise in peripheral yields. On the other hand, the downward pressure on the benchmark 10-year Bund yield continued with the yield dropping to a nine-month low of 0.194 per cent earlier this morning as Eurozone inflation expectations hit record lows. 10-year German yields rebounded to around the 0.24 per cent level later on today.
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