HSBC & GO drag Index lower

Declines in the share prices of HSBC Bank Malta plc and GO plc dragged the MSE Share Index to a new 14-month low. The local equity benchmark slid 0.3% back to 3,323.439 points.

The equity of HSBC Bank Malta plc slumped 1.9% to yet another 5-year low of €2.001 on low volumes of 6,850 shares. Similarly, the share price of GO plc closed 0.5% lower at €2.04 after failing to hold on to an intra-day high of €2.08 across 2,400 shares.

On the other hand, the share price of Bank of Valletta plc edged 0.5% higher to €2.09 on volumes of 15,500 shares. Similarly, the equity of Malta International Airport plc inched 1.1% higher to €2.30 on a small deal of 1,000 shares.

The only other active equity was Tigné Mall plc with a 1.8% increase to €0.52 on a single trade of 5,000 shares.

This afternoon, Crimsonwing plc announced that its Board of Directors will seek the authorisation of shareholders during the next Annual General Meeting allowing them to provide the required information to a number of potential bidders interest in acquiring the company.

On the bond market, the Rizzo Farrugia MGS Index jumped 0.2% to yet another fresh all-time high of 1,054.048 points as Eurozone yields slumped back to the 1.257% in view of the tensions in Ukraine and Iraq which could derail the recovery of the global economy.

Yesterday afternoon, Tumas Investments plc announced that it will be redeeming its €25 million 6.25% bonds early in 2014. The announcement also revealed that Tumas Investments will be issuing a new bond which will primarily be offered to the existing bondholders of the bonds to be redeemed in exchange for their existing holding.