• The MSE Share Index drifted by a further 0.3% during this morning’s session to close at an almost 3-week low of 3,337.927 points. Today’s decline was due to the negative performances by BOV, IHI and MIDI which offset the increases in the share prices of HSBC, MIA and GO. Meanwhile, the only other active equity, FIMBank, ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher today to 1,020.265 points as Eurozone yields slipped marginally lower on renewed speculation of more action from the European Central Bank after the economic data published yesterday revealed that the Eurozone is still in recession. This afternoon, the Treasury will be announcing the prices of the two new MGS issues on offer next week, i.e. the 3% MGS 2019 and the 4.5% MGS 2028.
  • BOV’s equity slid 0.6% lower to the €2.23 level on volumes of 7,204 shares. The Bank is scheduled to pay its recently declared interim gross dividend of €0.06 per share on 24 May.
  • Similarly, IHI eased minimally lower to the €0.875 level on low volumes of 5,879 shares.
  • MIDI’s share price also closed in negative territory as the equity shed 15.3% thereby re-testing its all-time low of €0.25. Activity was weak with only 9,000 shares changing hands. Yesterday, MIDI issued its Interim Statement explaining that due to the lack of apartments available for sale, MIDI is expected to report a loss for 2013. The delay in the granting of full development permits in respect of the last phase of the Tigné Point project left the Company with only 12 apartments in stock at the start of 2013. Out of these 12 apartments, MIDI sold 5 and concluded a promise of sale on another apartment since the start of the current financial year. Development works at Tigné Point recommenced in February 2013 with construction works of the first of two residential blocks known as T17.
  • On the other hand, HSBC moved 0.4% higher to regain the €2.63 level across six trades totalling just over 4,800 shares. This morning the Bank published its Interim Statement revealing an unchanged performance for the period 1 January to 15 May 2013 compared to the same period last year. The Director and CEO of HSBC Malta Mr Mark Watkinson stated that HSBC continued to deliver positive results for shareholders against a very challenging European backdrop and he indicated that global conditions are set to remain difficult for the medium term.
  • GO recovered from an intra-day low of €1.521 to close this morning’s session with a 1.9% gain over the previous closing level. A total of 23,240 shares traded with the equity closing the day at the €1.58 level.
  • Similarly, the share price of MIA moved 1% higher to regain its all-time high of €1.95 on volumes of 2,268 shares.
  • Meanwhile, FIMBank held on to the US$1.02 level across four trades totalling 3,328 shares.

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