MSE Share Index slumps to 11-week low

The MSE Share Index remained under pressure as it registered its thirteenth decline in the last seventeen sessions (since mid-February) with a further 0.3% drop to a fresh 11-week low of 3,585.001 points. Various equities were active today with trading volumes reaching their highest levels since the end of January with €0.38 million worth of equities changing hands.

In the banking sector, Bank of Valletta plc eased 0.4% to a fresh 2014 low of €2.32 across seventeen deals totalling 48,967 shares. Meanwhile, HSBC Bank Malta plc held on to the €2.44 level across 45,267 shares. HSBC shares will trade with the entitlement to the final gross dividend of €0.052 per share until tomorrow with the equity turning ex-dividend as from Thursday.

GO plc also featured amongst the negative performers with a decline of 1.7% to €2.058 on volumes of over 35,100 shares. The telecoms quad-play operator is scheduled to publish its 2013 full-year results next Tuesday 18 March.

A single trade of 6,000 Island Hotels Group Holdings plc shares was executed at the €0.80 level representing an 11.1% drop from the previous closing price. Similarly, the share price of MaltaPost plc shed 1.8% to its 2014 low of €1.10 also on mild volumes of 5,641 shares.

On the other hand, the only positive performer today was RS2 Software plc with a 0.4% increase to a fresh all-time high of €2.39 across eight deals totalling 22,800 shares.

Meanwhile, no change was registered in the share price of Malta International Airport plc as a further 1,000 shares changed hands at its all-time high of €2.20. Further shares remain on offer at the closing price with highest bids at the €2.173 level.

Likewise, Crimsonwing plc (€0.81), Simonds Farsons Cisk plc (€2.96) as well as Malita Investments plc (€0.542) all maintained their previous closing levels.

On the bond market, the Rizzo Farrugia MGS Index eased minimally lower to 1,025.975 points despite a dip in the benchmark 10-year Eurozone yields which slipped back to the 1.64% level.