The share price of GO plc and International Hotel Investments plc continued to decline during this morning’s trading session on lack of support for these equities.
GO’s share price dropped a further 3.1% today to a fresh 17-month low of €1.50 on increasing volumes totalling almost 20,200 shares. Since the publication of the full-year financial statements revealing a €19.2 million loss and the decision by the Directors to recommend a 50% cut in the dividend to €0.05 per share, GO’s equity has slumped by 13.3%.
Meanwhile, the downward pressure in the share price of International Hotel Investments is due to the prevailing conflict in Libya and the adverse impact from the hotel operations in Tripoli. IHI’s equity shed 2.4% to a new 3-month low of €0.83 on a small deal of 500 shares. IHI is scheduled to publish its 2010 full-year results tomorrow.
On the other hand, fresh demand for shares of HSBC Bank Malta plc helped the price edge 1% higher to regain the €2.95 level across twelve trades totalling 24,500 shares.
The only other active equity was Bank of Valletta plc. BOV closed the day unchanged at the €2.91 level on volumes of 5,000 shares. This week marks the end of the bank’s first six months of the current financial year ending 30 September 2011. BOV generally publish their interim results by the end of April.
The shares of Malta International Airport plc will trade with the entitlement to the final net dividend of €0.035 per share until close of business tomorrow.
Overall the local equity market closed in negative territory for the fifth successive session as the MSE Share Index retreated by another 0.2% to a new 20-week low of 3,464.759 points. Similarly, the Rizzo Farrugia MGS Index eased marginally lower today to a fresh 21-month low of 975.117 points as the benchmark 10-year Eurozone yield remained stable around the 3.30% level.