MIA share price down 5.6% ahead of results

The share price of Malta International Airport plc slumped 5.6% during this morning’s session to drop back to the €1.70 level just before the announcement of the 2010 financial results due later on today. 18,000 shares changed hands during this morning’s session with further bids remaining unsatisfied at the €1.70 level. During 2010, the airport operator registered a 12.8% increase in passenger traffic to a record 3.29 million passenger movements and this strong improvement in passenger movements should be reflected in the financial results. The Directors are also expected to recommend the payment of a final dividend to shareholders. A net interim dividend of €0.03 per share was paid in September 2010.

GO plc also shed 1.7% to close at a new 16-month low of €1.70 on a small trade of 100 shares. Earlier this week, the quad-play telecom operator reported a net loss for 2010 of €19.2 million and the Directors recommended the payment of a final net dividend of €0.05 per share which is half of what was paid in the previous year.

In the financial sector, HSBC Bank Malta plc slid 0.4% lower to a fresh 5-month low of €2.86 also on low volumes of 1,220 shares. On the other hand Bank of Valletta plc edged 1% higher to regain the €2.93 level on volumes of just over 3,800 shares. Similarly, Lombard Bank Malta plc edged 0.3% higher to close at the €3.01 level across seven deals totalling 14,160 shares.

Overall, the MSE Share Index registered the sixth consecutive decline as it eased a further 0.2% lower to a new 3-month low of 3,482.322 points. Elsewhere the Rizzo Farrugia MGS Index edged 0.2% higher to 982.490 points.

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