The share price of HSBC trended lower for the fourth consecutive session ahead of the bank’s full-year results publication on February 23. A total of 10,620 shares changed hands today as the equity receded by a further 1.5 per cent back to the €1.98 level.
On the other hand, the share price of FIMBank marginally rebounded from recent sharp declines with an eight per cent uplift to recapture the 54cUS level on low volumes of 3,050 shares.
In the property segment, the equity of Malita Investments climbed by 1.4 per cent to reach a new all-time high of 73c on volumes of almost 30,000 shares. Similarly, MIDI edged 0.4 per cent higher to 23c1 on a single deal of 10,000 shares.
The only other positive performer was MaltaPost with a 0.4 per cent increase to reach a new all-time high of €1.35 on a single deal of 2,671 shares.
This morning MaltaPost issued its interim directors statement stating that since the start of the 2014/15 financial year on October 1, the company registered an improvement in its financial performance in line with expectations.
Higher turnover was largely due to the growth in parcels and packets (especially during this Christmas period), new service offerings and the revision of certain tariffs with effect from January 1.
These offset the long-term decline in traditional letter mail volumes as well as the adverse impact from increased staff costs and other operating expenses.
Meanwhile, Bank of Valletta held on to the €2.08 level across 15 trades totalling 36,463 shares.
Last week, BOV also issued its interim directors statement to update the market on its performance since the start of the 2014/15 financial year on October 1.
BOV explained that its financial performance is in line with expectations and it continued to experience weak demand for business lending which was mitigated by the increasing request for home loans.
Meanwhile, customer deposits continued to grow despite the lower rates, resulting in higher levels of liquidity. Part of these incoming funds were invested in short dated, low yielding instruments and this served to keep negative returns on overnight deposits to a minimum.
Concurrently, commissions earned on the sale of financial products continued to grow at a satisfactory rate across all key business lines. BOV also noted that the cautious view towards provisioning, particularly the prudent valuation of collateral held, was retained during the period under review while price changes on the Bank’s investment portfolio also remained moderately positive during the period.
Simonds Farsons Cisk held on to the €3.08 level on shallow volumes of 1,472 shares and likewise Middlesea Insurance maintained the 99c4 level with only 800 shares changing hands.
On the bond market, the Rizzo Farrugia MGS Index once again eased 0.1 per cent lower to 1,127.291 points as benchmark Eurozone yields remained well supported at the 0.37 per cent level in spite of the Greek uncertainties.
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