Monday’s 0.5% recovery in the local equity market has almost completely reversed after the MSE Share Index closed in negative territory during the remaining days of the week. Index edged 0.1% higher this week to 3,388.479 points on the back of weekly increases in the share prices of Bank of Valletta plc, Malta International Airport plc and MaltaPost plc.
Bank of Valletta plc edged 0.3% lower during this morning’s session to close at the €3.21 level on a single trade of 1,386 shares. Despite today’s downturn, BOV still ended the week 0.3% higher. Meanwhile no trades in HSBC Bank Malta plc with the equity closing the week unchanged at the €2.84 level.
High volumes of over 63,428 FIMBank plc shares changed hands today. Nonetheless the trade specialist failed to recover from its recent declines as it maintained the US$0.97 level.
Simonds Farsons Cisk plc also unchanged at the €1.801 level on low volumes of 1,166 shares. This morning the Farsons Group announced that its Board of Directors is scheduled to meet on 29 September to consider and approve the Group’s financial results for the six months ended 31 July 2010.
The remaining 211 shares of Lombard Bank Malta plc, on offer at the €2.73 level, were taken up during this morning’s session. Bids already placed higher at €2.74 whilst lowest offers now pitched at the €2.75 level. Equity ranks as the sole negative performer of the week with a 0.7% drop.
On the bond market, a sharp decline in Malta Government Stock prices this week as the benchmark 10-year eurozone yield recovered to over the 2.4% level. The Central Bank of Malta’ bid price for the 20-year Government paper was reduced by 82 basis points but was supported at the 103% level in the market.
Copy of the Prospectus and details on the €15 million 6.25% Mediterranean Bank plc bond issue available at https://rizzofarrugia.com/news-events/2010/details-of-new-bond-issue-medbank01/.