MSE Share Index slides 0.4% lower this week

The MSE Share Index ended this week in negative territory for the first time in 4 weeks. The local equity benchmark slipped 0.4% lower during the past five sessions to 3,524.906 points on the back of declines in the share prices of the two large banks.

This week’s negative performance in the Index was mainly due to the 2.3% decline in the share price of HSBC Bank Malta plc to €2.60.

The share price of RS2 Software plc also performed negatively today with a 2.1% drop back to the €2.30 level on volumes of 14,520 shares movements. Similarly, the equity of 6pm Holdings plc eased by 0.7% to GBP0.70 across six deals totalling just over 24,000 shares.

On the other hand, the equity of Bank of Valletta plc edged 0.1% higher to €2.623 on low volumes of 6,237 shares but still ended the week 0.2% lower. The Bank is scheduled to hold its Annual General Meeting on 19 December.

The share price of Crimsonwing plc advanced by 1.2% to regain the all-time high of €0.85 level on renewed demand for the shares ahead of the publication of the September 2013 interim results in the coming days. A total of 74,500 shares changed hands today.

Meanwhile no change was registered in the share price of GO plc at €1.61 as the telecoms quad-play operator failed to hold on to an intra-day high of €1.63. A total of 11,470 shares changed hands today as investors await the publication of the Prospectus by Forthnet in connection with its proposed €30 million rights issue.

Similarly, the share price of International Hotel Investments plc remained unchanged at the €0.775 level across 18,965 shares. Medserv plc also held on to the €3.35 level as a further 15,000 shares changed hands. Yesterday Medserv held an Extraordinary General Meeting (EGM) during which shareholders approved a resolution to round up the nominal value of the shares from €0.2329 to €0.25 and subsequently split the shares by a ratio of 2.5 shares for every one held. The shares split will take place on 3 December.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,021.674 points despite benchmark Eurozone yields remaining close to the 1.77% level. The increase in yields this week mainly relates to expectations that the US Federal Reserve is going to start tapering its USD85 billion a month asset purchase programme as early as December.