Trading volumes dwindle to 2-week low

Trading volumes on the local equity market dwindled to a 2-week low as only €72,689 worth of shares changed hands during this morning’s session with the MSE share Index easing by a further 0.1% 3,355.643 points. Today’s decline in the local equity benchmark was due to the 4.4% drop in the share price of MIDI plc to a fresh all-time low of €0.22 on a single trade of 2,500 shares.

On the other hand, the equity of Lombard Bank Malta plc edged 0.6% higher to regain the €1.72 level also on shallow volumes of 10,500 shares.

Meanwhile, the other active equities ended this morning’s session unchanged. In the banking sector, Bank of Valletta plc held on to the €2.249 level across 17,125 shares and a further 5,000 shares of HSBC Bank Malta plc traded at the €2.00 level. Investors now await the publication of the European Central Bank’s (ECB) Asset Quality Review (AQR) on Sunday and subsequently the preliminary full-year results of BOV the following Friday 31 October.

Similarly, no change was recorded in the share price of FIMBank plc at the USD0.60 level on total volumes of 10,203 shares.

The only other active equity was International Hotel Investments plc as a further 1,172 shares changed hands across one deal at the €0.60 level (just above its all-time low of €0.595).

On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to 1,092.802 points as Eurozone yields moved closer to the 0.89% level on better-than-expected figures related to business activity in the Eurozone and China.