MSE Share Index down for 4th consecutive week

Despite a minor 0.1% increase in the equity market during this morning’s trading session, the MSE Share Index ended the week 0.3% lower – the fourth consecutive weekly decline for the local equity benchmark.

Today, HSBC Bank Malta plc edged 0.4% higher to €2.57 on low volumes of 1,940 shares. The Bank’s equity ended the week 0.4% higher ahead of the full-year results publication scheduled for 24 January. Meanwhile Bank of Valletta plc ended this morning’s session unchanged at the €2.21 level representing a 1.8% weekly drop. Almost 20,000 BOV shares changed hands today.

Malta International Airport plc shares had a positive week gaining 0.6% to €1.75 despite last week’s announcement that the airport operator is expecting a 2.8% decline in passenger movements during 2012.

On the other hand, MaltaPost plc succumbed to fresh offers entering the market as its share price was forced 3% lower to a new 6-week low of €0.96 on low volumes of 2,202 shares. The postal operator ended the week as the worst performing equity with a 4% decline.

On the bond market, the Rizzo Farrugia MGS Index moved higher for the seventh consecutive day with another marginal increase to yet another new 2012 high of 990.293 points reflecting this morning’s marginal decline in the benchmark Eurozone yields.

This afternoon marks the closing of subscriptions for the retail applications with respect to the new Malta Government Stock issues. Meanwhile, applications for over €100,000 in the form of tenders will be accepted until noon next Tuesday 7 February. A total of €300 million is on offer across the following stocks: (i) 4.25% MGS 2017 (III) (Fungibility Issue) at 103.75%; (ii) 4.3% MGS 2022 (II) at 100% (par) and (iii) 5.2% MGS 2031 (I) (Fungibility Issue) at 101.75%.