Following last week’s 0.8% drop, the MSE Share Index slipped a further 0.6% during this morning’s session to a new 1-month low of 3,061.941 points mainly due to the declines in the share prices of International Hotel Investments plc and Malta International Airport plc. IHI’s equity slid 2.4% lower to €0.82 on low volumes of 8,925 shares. Similarly, MIA’s share price tumbled 2.9% back to the €1.70 level across 6,900 shares. The airport operator is shortly expected to publish its detailed 2011 traffic results together with a forecast for 2012.
GO plc also in negative territory today as the equity only managed to partially recover from an intra-day low of €0.90 to close today’s session marginally below the previous closing price of €0.95. Seven trades amounting 12,100 shares transacted today as investors await further updates from Forthnet after its shareholders rejected all the items on the agenda at its recent Extraordinary General Meeting.
High volumes of over 174,000 FIMBank plc traded today with its share price trading 0.35% lower to €0.768 level. Meanwhile Bank of Valletta plc recovered from a 2-month low of €2.19 to close unchanged at the €2.22 level across thirty-four trades totalling 21,757 shares.
On the bond market, the Rizzo Farrugia MGS Index reversed last week’s 0.1% decline as it edged higher by the same amount this morning to regain the 988.459 level. Markets buoyant ahead of this afternoon’s meeting of European leaders which is set to discuss further measures to fight the region’s sovereign debt crisis. In fact, the euro gained against various major currencies including the US Dollar with the exchange rate now above the US$1.30 level.