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  • MSE Share Index shed a further 0.3% today to drop to a new 2-week low of 3,121.218 points mainly due to the 7.2% slide in GO’s share price. FIMBank and Island Hotels also in negative territory whilst Lombard, MaltaPost and Middlesea traded higher, the other three active equities, including BOV, ended this morning’s session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index slipped a further 0.1% lower to 996.116 points in line with the increase in Eurozone yields to just below the 1.5% level. Investors risk appetite improved this morning after Eurozone finance ministers announced that Spain does not need a bailout for now as it is taking the necessary corrective action to repair its economy and is managing to finance its debt from the bond markets.
  • The share price of GO slipped 7.2% during the final stages of today’s session to a new 2-week low of €0.90 on volumes totalling 18,800 shares.
  • FIMBank eased by 1.3% to USD0.79 on very low activity of 1,092 shares. The trade finance specialist this morning issued an announcement to explain that the recent reports in the local and international media in relation to the acquisition of a 25% stake in FIMBank by the Kuwaiti based Burgan Bank is linked to the previous announcements in March when it was revealed that Burgan Bank is seeking to acquire a 38.8% shareholding in FIMBank and then inject new equity to become the majority shareholder. FIMBank stated today that it will announce further details in due course.
  • The other negative performing equity today was Island Hotels Group Holdings which traded for the first time since 13 July. A single deal of 500 shares was executed at the €0.799 level representing a 5.4% drop from the previous close and a new all-time low. This month marks the end of the Group’s financial year with the full-year preliminary results generally published in February.
  • On the other hand, Lombard Bank Malta’s share price jumped 3.3% from its multi-year lows to €1.88 on a single trade of 2,000 shares.
  • Similarly, MaltaPost edged 0.1% higher to €0.71 across four trades totalling 30,000 shares.
  • Middlesea Insurance’s equity also in positive territory with a 0.7% rise to €0.76 on a small deal of 500 shares.
  • The share price of BOV closed unchanged at the €2.15 level after failing to hold on to an intra-day high of €2.161. Just over 37,000 shares traded today. The market awaits the publication of the preliminary full-year results of the Bank which generally takes place by the end of October.
  • MIA shares maintained the €1.73 level on volumes of 1,700 shares. Last Friday, the airport operator published the September traffic results showing a 6.6% increase in passenger numbers to 407,917 movements – a record for the month under review and the sixth consecutive month of record passenger movements.
  • Medserv’s share price also unchanged at the €3.99 level across two trades totalling 9,933 shares.

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