Various equities test new lows

Downward trend in local equity market extends for a third consecutive session with the MSE Share Index sliding a further 0.3% to close below the 3,000-point level for the first time since 24 September 2009. Five out of the eight active equities closed this morning’s session on the Borza in negative territory with some even touching new multi-year lows.

The share price of HSBC Bank Malta plc retreated by 0.6% back to the €2.55 level on volumes of 4,540 shares. Meanwhile Bank of Valletta plc traded unchanged at the €2.21 level across eight trades totalling 2,541 shares.

Also in the financial sector, Lombard Bank Malta plc slipped 0.8% to a new 14-month low of €2.53 on volumes of just over 20,000 shares. Similarly, Middlesea Insurance plc tumbled 2.6% to a fresh 21-month low of €0.70 across 5,176 shares. A decline of 2% was also registered in the share price of FIMBank plc which slid back to the US$0.75 level on a single deal of 1,800 shares.

The worst performer of the day was Crimsonwing plc with an 18.2% plunge to a new all-time low of €0.18 across ten trades totalling over 61,000 shares. In early February, the IT Company generally publishes an Interim Directors’ Statement to update the market on its performance since the September 2011 half-year end. At the half-year stage, Crimsonwing reported a 9.5% increase in revenue to €7.7 million but incurred a marginal loss of €19,346 after incurring one-off costs and making investments in order to achieve its revenue target of €20 million per annum.

On the other hand, RS2 Software plc maintained the €0.55 level across four trades totalling 30,000 shares with further offers remaining unsatisfied at the closing price. The only other active equity, MaltaPost plc, edged 3.2% higher to regain the €0.99 level on very low volumes of 512 shares.

On the bond market, the Rizzo Farrugia MGS Index slid 0.2% back to 986.857 points as benchmark Eurozone yields soared to around the 2% level.

Yesterday, the Treasury announced that it satisfied all applications submitted by the general public and tenders lodged by institutions amounting to over €274 million (nominal). The allotments across the three fixed rate stocks were as follows: €39.8 million (nominal) in the 4.25% MGS 2017 (III) FI, €158.5 million (nominal) in the 4.3% MGS 2022 (II) and €76.4 million (nominal) in the 5.2% MGS 2031 (I) FI.