HSBC Malta on Thursday continued its negative trend on the stock exchange as the equity dropped by 2.6% to the €1.12 level across 13,744 shares. 

The MSE Equity Price Index rebounded by 0.18% to 4,664.266 points, however, as the gains in five equities including BOV, FIMBank and BMIT outweighed declines in HSBC and Mapfre Middlesea.

Four other equities ended the day flat as trading activity fell sharply to just €0.13 million.

Malta Properties Company plc climbed to the €0.65 level (+3.2%) as 14,410 shares changes hands. On Wednesday, MPC announced that it entered into a promise of sale agreement with HSBC Bank Malta plc to purchase and acquire the HSBC Contact Centre in Swatar for a total consideration of €8.1 million. The property is being sold subject to a lease agreement in favour of HSBC Global Services (UK) Limited whereby following the final deed of sale and purchase, MPC will be recognised as the landlord and will therefore begin to receive lease payments.

Bank of Valletta plc closed 1.9% higher at the €1.095 level across 40,529 shares after reaching an intraday high of €1.12 (+4.2%).

Similarly, FIMBank plc rose by 5% to close at the USD0.63 level across 5,000 shares.

Elsewhere, BMIT Technologies plc advanced 2.9% higher to regain the €0.525 across 21,000 shares, whilst in the retail sector, PG plc moved 0.5% higher to the €1.85 level across a single trade of 15,386 shares.

Malta International Airport plc remained at the €6.90 level across 1,000 shares. On Wednesday, the airport operator announced that it had extended the contract of its current CEO Alan Borg until February 2024. The company added that it will be publishing its 2019 full-year financial results on 26 February, where its board of directors will also consider the declaration of a final dividend.  MIA is soon expected to publish its traffic forecasts for 2020.

Also among the large companies, GO plc retained the €4.12 level across 2,060 shares.

A single trade of just 525 shares left the equity of Lombard Bank Malta plc unchanged at the €2.18 level.

MaltaPost plc stayed at the €1.35 level on trivial volumes.

Mapfre Middlesea plc fell by 6% to the €2.20 level albeit across insignificant volumes. The RF MGS Index inched 0.08% higher to 1,140.832 points. The US and China Phase 1 Trade Deal failed to boost market sentiment within the EU. Yesterday, preliminary data showed that Germany recorded its weakest economic growth rate (+0.6%) in seven years. www.rizzofarrugia.com

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