The MSE Equity Price Index extended its recent negative streak with a drop of a further 0.1% to 4,379.007 points mainly due to the declines in BOV and IHI.
MIDI also eased lower while HSBC and RS2 trended higher. A further four equities closed the day unchanged. Trading activity slowed down significantly today with only €0.17 million worth of shares changing hands.
Bank of Valletta plc shed a further 0.9% back to €1.73 across seven deals totalling 9,705 shares. On Sunday, BOV denied media reports that €393 million worth of assets have been seized in Italy. BOV further reiterated that on its own initiative it placed €363 million with another bank, pending the appeal proceeding of the "sequestro conservattivo" issued against BOV in March. However, these assets still belong to BOV and are held in the bank’s own name and for its own benefit.
Similarly, International Hotel Investments plc drifted 0.7% lower back to the €0.69 level across ten deals totalling 30,324 shares.
The only other negative performing equity was MIDI plc as it retreated by 0.9% to the €0.426 level on a single deal of 1,500 shares.
On the other hand, the share price of HSBC Bank Malta plc rebounded by 0.6% to close at the €1.82 level on a single trade of 8,283 shares. On Monday, HSBC Holdings plc presented an update to its business strategy during which the CEO laid out the growth plans of the group for the coming years. During the presentation, the CEO made no reference to any closures in any jurisdictions despite rumours published earlier this year on the potential exit from Malta.
RS2 Software plc advanced by 1.7% to €1.17 across four deals totalling 66,424 shares. The company is scheduled to hold its annual general meeting on Tuesday June 19.
Meanwhile, no changes were registered in the share prices of GO plc (€3.40), Malta International Airport plc (€5.05), Lombard Bank Malta plc (€2.26) and GlobalCapital plc (€0.34) amid shallow volumes.
The RF MGS Index slipped back into negative territory with a 0.2% drop back to 1,097.372 points as peripheral eurozone yields, including those of Spain and Italy, inched marginally higher. On the other hand, the benchmark 10-year German Bund yield eased minimally lower ahead of the European Central Bank (ECB) meeting on Thursday June 14.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.