Following two consecutive sessions of increases, the MSE Share Index today closed in negative territory as it retreated by 0.4% to 2,998.426 points mainly due to the declines in the share prices of the three local commercial banks.

The share price of Bank of Valletta plc slid 0.9% to the €2.18 level on volumes of just over 13,000 shares.

Similarly, HSBC Bank Malta plc eased 0.6% lower but on significantly lower volumes of just 335 shares. HSBC's equity is still trading with the entitlement to the final gross dividend of €0.072 per share announced last Friday in conjunctions with the 2011 full-year results. The final gross dividend is payable to all shareholders as at close of trading on March 13.

Similarly, Lombard Bank Malta plc's share price slipped 0.8% lower to its 16-month low of €2.51 on a single trade of 2,060 shares. The bank is scheduled to publish its 2011 full-year results on March 15.

Also in the financial sector, GlobalCapital plc edged 1.1% lower to the 94c level across two trades totalling 5,000 shares.

Meanwhile, RS2 Software plc shares held on to the 55c level across three trades totalling 155,000 shares. The IT company has not yet announced the date of its 2011 full-year results publication.

Shortly after the close of today's trading session, Middlesea Insurance plc published its 2011 full-year results. The Middlesea Group registered a pre-tax profit of €3.1 million (2010: €6.4 million) as the significant increase in technical results was outweighed by the lower contribution from investments. After an absence of three years, the company proposed the payment of a marginal dividend of 1c gross per share.

On the bond market, the Rizzo Farrugia MGS Index closed higher for the fourth consecutive session with another 0.1% rise to 988.845 points. This reflects the decline in benchmark Eurozone yields in recent days to the current 1.82% level. Yields eased over the past days on the back of tomorrow's expected liquidity injection by the European Central Bank and Germany's opposition to a larger bailout fund for the Eurozone.

Tomorrow, Corinthia Finance plc is scheduled to publish a prospectus in conjunction with a new €7.5 million 6% bond maturing between 2019 and 2022 following approval by the listing authority yesterday.

www.rizzofarrugia.com

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