MSE Share Index down for seventh consecutive session

The MSE Share Index registered its seventh consecutive decline as most of the large cap equities remained under pressure. The local equity benchmark shed a further 0.5% to a fresh 5-week low of 3,429.351 points.

HSBC Bank Malta plc shares eased by a further 0.8% to a 16-week low of €2.60 which is also only marginally higher than the equity’s 2013 low of €2.59. A total of 7,200 HSBC shares changed hands today across 7,200 shares.

Similarly, International Hotel Investments plc drifted 1% lower back to the €0.88 level as investors eagerly await further developments with respect to the sale of the twelve luxury apartments in London. Furthermore, in line with the listing rules, IHI is expected to publish its half-year results by the end of this week although no date has been announced by the Company.

Amongst the large cap equities, Malta International Airport plc shares also closed in negative territory today with a 2.6% drop back to the €1.90 level – the lowest closing price since late April 2013.

The only other negative performing equity today was Middlesea Insurance plc with a 1.2% decline back to the €0.81 level on a single deal of 5,000 shares.

On the other hand, the share price of Bank of Valletta plc advanced by 0.4% today to regain the €2.38 level across seven trades totalling 26,420 shares.

Further bids for Island Hotels Group Holdings plc shares lifted the equity 2.9% higher to €0.72 on volumes of 7,650 shares.

Meanwhile, FIMBank plc held on to the US$0.94 level on volumes of 4,152 shares.

On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 1,021.308 points as benchmark 10-year Eurozone yields eased lower to 1.925%.