HSBC held on to the €2 level today following yesterday’s two per cent decline in the equity's share price following weak performance during the first half of the year.

The equity held on to the €2 level on lower activity amounting to 11,800 shares.

Further shares are on offer at €2 with highest bids only at €1.95.

Yesterday morning, HSBC issued its interim results showing a 25 per cent decline in pre-tax profits to €39.6 million on the back of narrowing interest income margins and lower fee and commission income during the first six months of this year.

The HSBC Malta Group was also negatively impacted by lower profits from the life assurance subsidiary, higher provisions and a surge in regulatory and compliance costs.

The directors declared an interim dividend of 4c5 (net: 2c9) per share to shareholders as at the close of trading next Monday. The interim dividend represents a decline of 55 per cent from last year’s interim dividend due to the lower profits and the impact of Banking Rule 09.

Meanwhile, Bank of Valletta plc and RS2 Software plc ended the day in positive territory helping the MSE Share Index close marginally higher this morning at 3,390.925 points.

Bank of Valletta plc advanced by one per cent to €2.12 also on low volumes of 5,193 shares with RS2 Software plc edging a further 1.5 per cent to the €2.64 level on higher activity of almost 30,000 shares.

Malta International Airport plc was the only equity that closed lower with the share price slipping by 1.7 per cent to the €2.30 level on weak activity totalling 950 shares. This afternoon, MIA reported a growth of 8.5 per cent in passenger movements during July to a new record of 511,243 passengers.

A further seven equities closed the day unchanged.

Go plc shares held on to the €2.40 level on 3,100 shares after recovering from a low of €2.35,5. The company is expected to publish its interim results on August 13.

Midi plc maintained the 24c level on weak volumes of 1,786 shares.

On the other hand, trading activity increased in Medserv plc with a total of 42,700 shares changing hands at the €1.30 level. Medserv is expected to issue its interim results on August 28.

In the property segment, Malita Investments plc and Tigne Mall plc also closed this morning’s session unchanged at 55c (26,250 shares) and 51c5 (19,500 shares).

On the bond market, the Rizzo Farrugia MGS Index closed at yet another all-time high of 1,062.653 points. Meanwhile, the Eurozone yields rebounded to the 1.16 per cent as tensions at the Gaza strip eased as a 72-hour truce begins.

Earlier today, the Treasury announced the allotment policy of the last two Malta Government Stocks, whereby the 39 applications received for the two per cent MGS 2020 for a nominal value of €6,044,300 will be satisfied in full, while for the 4.1 per cent MGS 2034, the Treasury will allot the first €70,000 nominal on each application and an additional 40 per cent on the balance where applicable.

The Treasury did not disclose the date of any refunds to applicants and the listing dates of the two MGS as yet.

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