Volumes declined for the fourth consecutive session with a mere €29,149 worth of shares changing hands during this morning’s trading session on the local Borza. The MSE Share Index closed lower for the first time this week with a 0.2% drop to 3,063.738 points mainly due to the 1% decline in the share price of Bank of Valletta plc to €2.07. Trading activity in BOV shares remained low today with only 5,828 shares changing hands.
Other minor declines were also registered in the equities of Island Hotels Group Holdings plc and MIDI plc. Island Hotels’ equity eased 0.1% lower to a new 18-month low of €0.849 on two small deals totalling 600 shares. MIDI’s share price touched a new all-time low of €0.30 before recovering to close at the €0.33 level representing a 1.5% drop. The Company, which is responsible for the development of Tigne Point and Manoel Island, is scheduled to hold its Annual General Meeting on 26 June.
On the other hand, Malta International Airport plc edged 0.6% higher to reach a new 15-month high of €1.78 although volumes were also low at 1,600 shares. Meanwhile, the only other active equity, GO plc, again recovered from an intra-day low of €1.15 to regain its 2012 high of €1.18 across six trades amounting to 7,720 shares.
On the bond market, the Rizzo Farrugia MGS Index edged minimally higher to 985.321 points despite a further uptick in Eurozone yields which touched a seven week high of 1.631% as Germany’s ‘safe-haven’ status weakens amidst the worsening Eurozone sovereign debt crisis. International markets are awaiting this afternoon’s publication of an independent audit of Spain’s banks which should reveal the total amount needed for the Spanish banks to replenish their balance sheets.