MSE Share Index falls to a 2-month low

Declines in BOV, HSBC and GO pushed the MSE Share Index into negative territory for the third consecutive day this week with a further 0.6% drop to a fresh 2-month low of 3,293.523 points.

Bank of Valletta plc shed 1.7% and closed at the €2.20 level on volumes totalling 19,737 shares. Tomorrow the Bank will be issuing its preliminary results for the financial year ended 30 September 2014. Similarly, the share price of HSBC Bank Malta plc registered a 0.6% decline closing at €1.97 on activity of 11,508 shares.

Middlesea Insurance plc also closed in negative territory, shedding 0.6% to €0.994 in a single deal of 2,000 shares. A single deal in the postal operator’s shares resulted in a 2.5% decline in the share price of Maltapost plc to the €1.17 level. The postal operator is expected to publish its preliminary results for the financial year ended 30 September 2014 in the coming weeks.

The other negative performer during this morning’s session was GO plc. The quad-play telecoms operator closed 0.3% lower at €2.64 after dropping to a low of €2.555 on shallow volumes totalling 7,942 shares.

On the other hand, Simonds Farsons Cisk plc traded up to a fresh all-time high of €3.011, before closing marginally lower at €3.01, representing a 1.3% increase over its last closing price. Medserv plc also closed in positive territory, gaining 2.3% to close at the €1.33 level as a total of 49,600 shares changed hands across 4 deals.

On the bond market, the Rizzo Farrugia MGS Index slipped 0.1% lower to 1,091.365 points as Eurozone benchmark yields edged closer to the 0.88% level, possibly due to the uplift in the US Treasury yields after the US Federal Reserve ended its bond buying programme. However, by this afternoon, yields fell back to the 0.85% level.