The share price of Bank of Valletta plc remained under pressure and closed lower for the second consecutive session with a further 0.5 per cent drop back to the €2.12 level across 11 deals totalling 17,252 shares. The nank will pay out the interim gross dividend of 4c25 per share on May 23.

Similarly, the equity of Lombard Bank Malta plc shed a further 0.7 per cent to a new nine-year low of €1.49 across 10trades totalling just over 15,000 shares.

Also in the financial sector, Middlesea Insurance plc dropped 2.2 per cent back to the 90c level on low volumes of 5,638 shares.

These declines led to a 0.2 percent drop in the MSE Share Index to 3,421.742 points with the other two active equities ending the session unchanged.

HSBC Bank Malta plc held on to the €2.11 level with just 3,000 shares trading during this morning’s session. Likewise, Malta International Airport plc maintained the €2.25 level on almost 5,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged higher for the third consecutive session with a further 0.1 per cent increase to yet another all-time high of 1,040.815 points as Eurozone yields continued to slump back to fresh one-year lows of 1.31 per cent.

This recent decline in benchmark Eurozone yields reflects the increasing pressure on the European Central Bank (ECB) to introduce further stimulus measures in order to counter the region’s weak growth and low inflation.

www.rizzofarrugia.com

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