Selling pressure intensifies in GO plc following last week’s financial results announcement which left many shareholders disappointed. The share price was forced lower by 6.1% during this morning’s session to close at a new 17-month low of €1.55 across six trades totalling 5,000 shares. Offers already placed below today’s closing price whilst best bids now stand at €1.501. Following this week’s decline, GO now ranks amongst the worst performing equities this year with a year-to-date drop of 19.9%.
Middlesea Insurance plc also succumbed to fresh sell orders as its share price retreated by 4% to €0.96 across seven trades totalling 4,500 shares.
Lombard Bank Malta plc ended marginally lower as it turned ex-div today although it traded 1.7% higher on the week over heavy activity.
The two big bank’s equities recovered during this morning’s trading session. HSBC Bank Malta plc moved 0.7% higher to regain the €2.92 level on volumes of 1,500 shares, ending the week 1.1% higher. Bank of Valletta plc gained 0.5% to close at the €2.915 level across five trades totalling 4,370 shares. Nonetheless, BOV ended the week just under 1% lower on very low volumes.
A new all-time high for MaltaPost plc as its share price is lifted minimally higher to the €1.101 level on volumes of just over 3,600 shares. The postal operator currently ranks as the best performing equity this year with a year-to-date increase of 10.1%.
Overall, the MSE Share Index closed in negative territory for the third time this week with another 0.2% decline during this morning’s trading session to close at 3,478.545 points – the lowest level since 6 December 2010. Following the eight successive weekly downturn, the local equity benchmark is now 8% below its value at the beginning of the year.
The Rizzo Farrugia MGS Index also slipped 0.3% lower this week to 976.847 points as the benchmark 10-year Eurozone yields regained the 3.25% level on the back of strong indications that the ECB will be increasing its reference interest rate next month.