MSE Share Index at 14-month low

The MSE Share Index closed lower for the fourth consecutive session with a further 0.4% drop to a fresh 14-month low of 3,309.69 points. Today’s decline was mainly attributable to the 1.9% drop in the share price of Bank of Valletta plc to a new 2014 low of €2.05 on volumes of just over 91,000 shares.

Similarly, the share price of Malta International Airport plc eased 0.4% lower to €2.29 albeit on low volumes of 4,618 shares. Shallow trading activity also took place in RS2 Software plc with only 6,800 shares changing hands. The equity closed 1.5% lower at the €2.65 level after hitting a low of €2.57.

The only other negative performing equity was Medserv plc with a 1.6% drop back to the €1.22 level on a single deal of 2,000 shares.

On the other hand, HSBC Bank Malta plc edged 0.5% higher to €2.011 on just 1,600 shares. Also in the banking sector, Lombard Bank Malta plc’s share price inched minimally higher to €1.465 on activity of 7,387 shares.

Similarly, the share price of Crimsonwing plc advanced by 3.6% to €0.84 on a solitary deal of 5,000 shares. Yesterday, the company 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 interested in acquiring the company.

Meanwhile, no changes were registered in the share prices of the two property-related equities. Malita Investments plc held on to the €0.55 level across 21,000 shares and a further 10,000 Tigné Mall plc shares changed hands at the €0.52 level.

On the bond market, the Rizzo Farrugia MGS Index moved 0.1% to yet another fresh all-time high of 1,055.511 points as Eurozone yields eased marginally lower to 1.25% in view of the tensions in Ukraine and Iraq which could derail the recovery of the global economy.