HSBC at new 29-month low
The share price of HSBC Bank Malta plc dropped by 1.1% today to close at a new 29-month low of €2.58 on lack of support for the equity at the previous 2011 low of €2.60 and fresh offers entering the market.
Thirteen trades were executed during this morning's trading session for a total of over 12,600 shares.
GO plc's share price slid back towards its all-time low of €1 following this morning's announcement referring to the transfer of Forthnet's shares to the 'Under Surveillance' segment on the Athens Stock Exchange.
This arose following the goodwill impairments totalling €56.9 million incurred by Forthnet in its financial statements between 2010 and the first six months of 2011, which led to losses in Forthnet's books which are greater than 30% of the total equity thereby breaching the parameters of the Athens Stock Exchange (ASE) rulebook.
Five trades totalling 2,000 GO shares were traded at €1.00,1 representing a 3.7% drop from the previous close.
Meanwhile Bank of Valletta plc edged 0.8% higher to regain the €2.52 level on fresh demand for these shares. A total of 9,325 shares changed hands today ahead of the bank's annual general meeting scheduled to be held on December 16.
During the meeting, shareholders will be asked to approve a number of resolutions including the recommended final gross dividend of 8c per share and a one for eight bonus share issue.
The MSE Share Index closed the day 0.3% lower at 3,122.839 points. This week Crimsonwing plc is expected to publish its interim financial statements for the six-month period to September 30 while on Thursday, MaltaPost plc will be publishing its September 2011 full-year results and declaring a full-year dividend to shareholders.
On the bond market, the Rizzo Farrugia MGS Index edged 0.2% higher to 971.006 points as Eurozone yields eased marginally lower.
This morning, Italy succeeded in selling three-year and 10-year bonds at higher yields. In fact, yields on three-year paper shot up from 4.93% in October to 7.89% with yields on 10-year paper rising from 6.06% to 7.56%.
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