During this morning’s session on the Stock Exchange, the MSE Share Index was dragged 1.3 per cent lower to a new three-week low of 3,202.867 points by the declines registered in the three largest equities by market capitalisation.
The equity of Bank of Valletta plc failed to hold on to the €2.45 as new sell orders pushed the bank’s share price 0.6 per cent back to the €2.43,5 level on volumes of almost 42,917 shares despite still trading with the entitlement to the one for nine bonus issue. The bank’s shares will turn ex-bonus as from Tuesday.
Similarly, HSBC Bank Malta plc’s share price eased minimally lower to close at the €2.74,9 level across six trades totalling 16,720 shares. The third largest equity by market capitalisation, International Hotel Investments plc drifted seven per cent lower back to the 80c level on a single trade of 1,180 shares.
Meanwhile, all other active equities ended the session unchanged on low volumes. In the banking sector, Lombard Bank Malta plc continued to trade at the €1.86 level across 3,600 shares.
During this morning’s annual general meeting of MaltaPost plc, chairman Joe Said, who is also CEO of Lombard, confirmed that Lombard will be taking its dividend from MaltaPost in the form of shares and that the bank still has the intention to raise its current shareholding in MaltaPost to not more than 74.5 per cent in line with the announcement issued on October 25.
Likewise, GO plc maintained its 2012 high of €1.20 across 4,000 shares and Crimsonwing plc held on to its 5-year high of 57c as 6,675 shares changed hands today. A single trade of 850 Simonds Farsons Cisk plc shares was transacted at the €2.50 level.
On the bond market, the Rizzo Farrugia MGS Index moved higher for the fifth consecutive session with a further 0.1 per cent increase to yet another 26-month high as the Central Bank of Malta Stockbrokers raised its bid prices to new all-time highs particularly for most of the long and medium term local government paper.
In the meantime, this afternoon, the European Central Bank announced that it maintained its benchmark rate at the historically low level of 0.75 per cent and did not expand its monetary policy easing programme.
This decision was taken on the back of an improving outlook for the world economy as well as the fact that inflation in the Eurozone is still above the bank’s target of two per cent.
Likewise, the Bank of England held its benchmark rate at 0.5 per cent and did not raise its total target for quantitative easing.
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