Weak investor sentiment weighs on local equities

Investor sentiment remained subdued at the start of the week on the back of concerns linked with the political turmoil in Libya and the natural disaster in Japan. The MSE Share Index dropped another 0.4% to just below the 3,560-points level on weak volumes.

Bank of Valletta plc shed a further 1.3% to drop back to the €2.93 level across fifteen trades totalling just under 14,000 shares. Meanwhile HSBC Bank Malta plc maintained the €2.90 level on volumes of over 6,700 shares.

GO plc also closed unchanged at the €1.73 level on activity amounting to 13,886 shares. This morning the telecoms Group announced that its Board of Directors is scheduled to meet tomorrow to consider and approve the group’s 2010 financial statements and also consider the recommendation of a dividend.

Malta International Airport plc maintained last week’s 3.8% rise as a further 15,750 shares changed hands at the €1.80 level ahead of next Thursday’s 2010 full-year results publication. Further offers remain unsatisfied at the closing price.

The share price of RS2 Software plc plunged 20.3% to yet another all-time low of €0.31 on lack of support in the market. The IT Company still has to announce the publication date of the 2010 preliminary results.

The only positive performing equity today was MaltaPost plc as it edged 0.8% higher to regain the €1.06 level. Over 11,200 shares were exchanged today with bids already placed higher at the €1.07 level.

Middlesea Insurance plc will be issuing their 2010 financial statements today followed by Grand Harbour Marina plc and GO plc on Tuesday and Malta International Airport plc on Thursday.

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