MSE Share Index declines on large caps

Once again, the MSE Share Index trended lower following further declines in the share prices of the largest equities by market capitalisation. The local equity benchmark shed a further 0.7% during this morning’s session to drop back to a fresh 2-week low of 3,312.694 points.

Bank of Valletta plc retreated by 0.5% back to the €2.239 level on low volumes of 7,907 shares. The Bank is scheduled to publish its preliminary full-year results on Friday afternoon. Similarly, the share price of HSBC Bank Malta plc slipped by 1.9% to €1.981 across four deals totalling 13,604 shares.

Amongst the large cap equities, International Hotel Investments plc also succumbed to selling pressure with a decline of a further 1.8% to yet another all-time low of €0.54 across 23,171 shares.

Similarly, the share price of Malta International Airport plc shed 1.3% back to the €2.33 level across one deal comprising 10,000 shares.

On the other hand, the share price of Lombard Bank Malta plc edged 0.6% higher to regain the €1.75 level on a single trade of 1,000 shares. Likewise, its postal subsidiary, MaltaPost plc, jumped 4.4% to a fresh all-time high of €1.20 on low volumes of 3,530 shares. MaltaPost should be publishing its September 2014 full-year financials in the coming weeks.

The only other active equity was MIDI plc with 40,000 shares changing hands at the equity’s all-time low of €0.22 across a single trade.

On the bond market, the Rizzo Farrugia MGS Index inched minimally higher to 1,092.454 points as Eurozone benchmark yields continued to hover around the 0.87% level.