IHI drags MSE Share Index lower

The share price of International Hotel Investments plc shed 4.8% today dropping back to the €0.80 level on volumes of only 4,650 shares. It was the first time that the equity traded since turning ex-dividend. In April IHI declared an interim dividend of €0.03 per share following the sale of 11 of the residences in London.

The decline in the share price of the third largest cap IHI offset the other positive performing equities with the MSE Share Index closing 0.4% lower at 3,398.197 points.

Amongst the positive movers, the equity of HSBC Bank Malta plc edged 1% higher to regain the €2.11 level across four deals totalling 8,600 shares. Similarly, new the share price of Malta International Airport plc advanced by 1.8% to recapture the €2.30 level on low volumes of 3,000 shares. MIA held its AGM today and the final net dividend of €0.045 per share will now be paid by 9 June.

The equity of MIDI plc moved minimally higher to €0.241 on a single trade of 5,500 shares.

Meanwhile, the only other active equity today was Bank of Valletta plc as 11,879 shares traded unchanged at the €2.12 level across seven deals totalling 11,879 shares.

On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 1,039.271 points as Eurozone yields were flat at the 1.38% level.