GO plc share price touches new low

The share price of GO plc fell to an all-time low of €1.389 before recovering marginally to close at €1.39 during today’s trading session. The shares are now down 19.7% since the company announced its 2010 full-year results on 15 March.  The equity turns ex-dividend as from Thursday 5 May ahead of the Annual General Meeting to be held on 8 June.

Meanwhile, FIMBank plc fell 1.1% during this morning’s session to close at US$0.87 on higher volumes totalling 60,870 shares. In a press release last week, the Bank announced that it reached an agreement with the International Finance Corporation (IFC) and BISBANCO (a Brazilian Bank) to set up a new factoring joint venture in Brazil names BRASILFactors. BRASILFactors will be offering domestic and cross border factoring and complementary services to Brazilian corporates and small and medium enterprises (SMEs). Moreover, FIMBank also held a press conference last Wednesday announcing a US$60 million loan agreement with the IFC which will enable the Group to ensure that its client companies in the Middle East and Africa can import the production materials and machinery they need to grow their businesses. This loan will help FIMBank to finance trade transactions for emerging market firms in consumer goods, small machinery, raw materials and components.

The MSE Share Index ended the day lower at 3,328.160 points mainly due to renewed weakness in the two large caps. Bank of Valletta plc fell 1.6% to €2.85 across five trades totalling 2,910 shares ahead of next Friday’s half-year results publication covering the six months ended 31 March 2011. HSBC Bank Malta plc edged 0.3% lower to €2.95 across 7,675 shares.