The equities of the three large commercial banks moved higher during this morning’s session. Bank of Valletta plc edged minimally higher to close at the €2.25 level across ten trades totalling 26,741 shares and HSBC Bank Malta plc’s share price rose by 0.2% to regain the €2.635 level on lower volumes of 7,480 shares.
An interview with HSBC Europe’s CEO was published in The Sunday Times yesterday in which it was stated that HSBC continuously runs a rigorous six-filter process on its various business and as long as HSBC Malta continues to pass these tests, HSBC will remain committed to the Maltese market.
The share price of Lombard Bank Malta plc ended this morning’s session at the €1.71 level representing a €0.141 drop from the previous closing price (last trade was executed on 14 May at €1.851). However, the drop solely represents the ex-bonus issue adjustment. In fact, compared to the adjusted closing price of €1.683, the equity of Lombard this morning climbed by 1.6% to the €1.71 level across four trades totalling 20,000 shares.
Positive movements were also recorded across the other two active equities. International Hotel Investments plc inched minimally higher to recapture its 2013 high of €0.90 on volumes of 50,000 shares as investors await further developments with respect to the sale of the twelve luxury London apartments.
Similarly, new bids lifted the share price of Crimsonwing plc by 1.8% to a fresh 5-year high of €0.58 on volumes of 9,000 shares.
Following last year’s 96% jump, the IT equity rallied by a further 18.4% since the start of 2013 on the back of improved financial results as confirmed by the latest company announcement which revealed a 15% increase in revenue during the financial year ended 31 March 2013 to just under €18 million. Furthermore, the Directors explained that the Group is well placed to reach the coveted the €20 million revenue target during the current financial year ending 31 March 2014. The audited financial statements as at 31 March 2013 are expected to be published in the coming weeks.
On the bond market, the Rizzo Farrugia MGS Index slipped back below the 1,020 points level as Eurozone yields moved closer to the 1.55% level on better-than-expected manufacturing data for the Eurozone.
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