Negative sentiment drags Index down
The MSE Equity Total Return Index extended its negative trend as it fell by a significant 1.4 per cent to end the week at a 15-week low of 8,556.237 points.
A total of 20 issues were active of which ten closed lower while five posted gains. Total turnover was slightly higher at €1.87 million, spread over 252 transactions.
More than a third of this turnover was generated by Bank of Valletta plc as 379,520 shares traded over 109 deals. The outcome was a minimal loss, closing at €1.795. On Wednesday, various media sources reported that HSBC Holdings plc CEO, John Flint, and chairman, Mark Tucker are considering the possibility of an exit or sale from the group’s smaller consumer operations, such as Bermuda, Malta and Uruguay.
In response, HSBC Bank Malta plc issued an announcement, stating that at this stage the company has no information to announce to the market as it is company policy not to comment on speculative stories.
In the aftermath, the equity posted successive losses, ultimately closing 7.53 per cent lower at a price of €1.72, the lowest price recorded in almost a year and a half.
Despite the positive results published last month, it seems investors are currently...