MSE Share Index at 2-month low

The MSE Share Index slipped 1.1% to a new 2-month low of 3,288.884 points during this morning’s trading session mainly reflecting the declines in the share prices of HSBC Bank Malta plc and International Hotel Investments plc.

HSBC’s equity dropped below the €2.70 level for the first time in the last three months with a 1.1% slump to the €2.68 level across seven deals totalling 19,538 shares. Similarly, IHI’s share price slumped 4.5% lower to the €0.74 level across nine trades totalling more than 103,000 shares.

Malta International Airport plc also ended this morning’s session in negative territory with a 1.6% drop back to the €1.89 level on low volumes of 3,000 shares. MIDI plc shares shed 4.8% to €0.295 on volumes of 50,000 shares.

On the other hand, GO plc recovered most of last week’s 2.2% drop with a 1.6% uplift to regain the €1.57 level across 5,000 shares.

Meanwhile, no change was registered in the share price of Bank of Valletta plc as it held on to the €2.27 level across 30,000 shares. The Bank is scheduled to publish its half-year results this Thursday 25 April.

Similarly, in the financial sector, Lombard Bank Malta plc maintained the €1.95 level on low volumes of 2,000 shares and Middlesea Insurance plc continued to trade at the €0.895 level across 4,492 shares. Higher volumes were registered in FIMBank plc as the equity failed to hold on to the US$1.02 level to close unchanged at the US$1.00 level across 63,000 shares.

A single trade of 1,500 Plaza Centres plc shares was executed at the €0.57 level, representing no change from the previous close.

On the bond market, the Rizzo Farrugia MGS Index eased by 0.1% to 1,020.103 points as benchmark 10-year Eurozone yields dipped marginally higher this morning following the successful election of a President in Italy.

Locally, Mediterranean Investments Holdings plc published its 2012 full-year results revealing a pre-tax profit of €68.2 million which is largely comprised of a €56.8 million fair value gain on Palm City. Nonetheless, the operations of Palm City also registered a significant improved as revenue grew to €27.3 million from €10.2 million in 2011. The improvement was due to higher occupancy which reached over 90% and short-term leases at higher rental rates.