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Share index down to three-week low

The share index today slid 0.3% back to a new three-week low of 4,702.925 points as HSBC, GO, Lombard and FIMBank all trended in negative territory.In contrast, BOV, MaltaPost and

In contrast, BOV, MaltaPost and Malita Investment moved higher whilst MIA closed today’s session unchanged.During this shortened week, the local equity benchmark eased marginally lower largely reflecting the declines in HSBC, RS2 and Lombard which were partially offset by eight positive performing equities including BOV.

During this shortened week, the local equity benchmark eased marginally lower largely reflecting the declines in HSBC, RS2 and Lombard which were partially offset by eight positive performing equities including BOV.

Bank of Valletta regained and closed at its 10-year high of €2.25 representing a 0.5% increase from the previous closing price across a total of 9,302 shares. Yesterday afternoon, BOV announced that its Board of Directors is scheduled to meet on Thursday 27 April to consider and approve the Group’s financial statements for the interim period ended 31 March 2017.

Yesterday afternoon, BOV announced that its board of directors is scheduled to meet on April 27 to consider and approve the group’s financial statements for the interim period ended March 31.

Similarly, MaltaPost advanced by 2.5% to recapture the €2.05 level across three deals totalling 10,000 shares. The postal operator generally publishes its interim results in early May.

The only other positive performing equity was Malita Investments with a 1.4% increase to the 75c level on volumes of 51,000 shares.

On the other hand, the share price of HSBC slid 1.4% lower back to the €2.06 level across 13 deals totalling 27,896 shares.

Likewise, Lombard Bank shares trended in negative territory with a 3.1% drop back to the €2.41 level albeit on a small deal of 700 shares. The bank is scheduled to hold its annual general meeting next Thursday.

Also in the banking sector, FIMBank shares traded for the first time since turning ex-bonus on April 10. The equity retreated by 1.4% to 79c9US on a single trade of 576 shares.

GO shed 0.7% to the €3.45 level on a single trade of 500 shares.

Meanwhile, Malta International Airport once again held on to the €4.19 level on volumes of 1,980 shares.

On the bond market, the RF MGS Index reversed some of yesterday’s decline as it rebounded by 0.08% to 1,124.994 points.

Whilst the 10-year and 20-year benchmark German Bund yields advanced to 0.244% and 0.683% respectively from 0.223% and 0.673% yesterday, the corresponding yield of the government bond of the largest peripheral country with the closest credit rating to Malta – i.e. Spain – drifted lower.

Economic data issued today was very positive. Indeed, the result of a survey showed that economic activity in the eurozone rose to a six-year high in April.

Furthermore, the pace of job creation rose to the highest level in almost 10 years amid widespread optimism about the single currency’s economic prospects.

www.rizzofarrugia.com

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