The local equity market continued to trade lower with the MSE Share Index closing in negative territory for the fifth consecutive trading session. The Index closed another 0.5% lower as six out of the eight active equities traded lower. Subdued trading activity persists as only €39,165 worth of shares traded today.
Bank of Valletta plc moved lower for the third successive session with its share price easing a further 0.8% back to the €3.185 level on volumes of just over 4,000 shares. GO plc also slumped 2.1% to €1.85 on a single trade of 1,900 shares.
The equity of the airport operator eased 1.3% lower to €1.54 across three trades amounting to 6,300 shares. Malta International Airport plc dropped 2.5% since the August Traffic Results announcement on 3 September as the strong passenger movements registered in August failed to generate support for the equity. Further details on the August traffic results available at https://rizzofarrugia.com/news-events/2010/august-traffic-results-mia15/.
FIMBank plc dropped back to its multi-year low of US$0.95 on volumes of 5,200 shares. The other active equities include MaltaPost plc (-5.6% to €0.85), IHG Holdings plc (-0.7% to €0.99), Middlesea Insurance plc (unchanged at €1.00) and Lombard Bank Malta plc (+0.4% to €2.74).
This afternoon Medserv plc announced that it entered into a Memorandum of Understanding with the Italian company, T.E.A. Shipping to form a joint-venture to procure further business in the oil and gas industry within the Italian jurisdiction. Medserv’s equity has been inactive since 9 August with no bids in sight whilst further offers are placed at the last traded price of €4.28.