The Malta Stock Exchange Share Index dropped a further 1.5 per cent to a new three-month low of 3,490 points as investor sentiment remains fragile.

HSBC Bank Malta plc retreated by 0.7 per cent to the €2.87 level on a single trade of 3,600 shares.

Meanwhile Bank of Valletta plc edged 0.4 per cent higher to regain the €2.90 level on volumes of just over 13,000 shares.

International Hotel Investments plc shares were active for the first time in three weeks with its share price plunging 8.5 per cent to the €0.85 level on low volumes of 3,800 shares. Offers are already placed lower at €0.849, with highest bids at €0.71,1. The IHI Group still has to announce the date of the 2010 results publication.

On the other hand, MaltaPost plc climbed 3.3 per cent to regain the €1.09,5 level – just below its all-time high of €1.10. Three trades totalling 3,680 shares were effected during this morning’s session.

The share price of its largest shareholder, Lombard Bank Malta plc, closed unchanged at the €3 level on volumes of 10,500 shares.

The 2010 results of GO plc failed to generate any trades in the equity on buying interest dried up following the announcement of a 50 per cent drop in dividends to shareholders. The quad play operator yesterday report a net loss for the year of €19.2 million as the growth in local operations was outweighed by the increasing share of loss from the group’s investment in Greece.

Grand Harbour Marina plc’s equity was also inactive despite the publication of the 2010 financial statements and the announcement that the company approved the acquisition of a 45 per cent shareholding in the Cesme Marina in Turkey from its majority shareholder Camper & Nicholsons Marina Investments Limited (CNMI).

During the 12 months to December 31, GHM’s total revenue increased by 14 per cent to €2.3 million mainly emanating from tariff increases and higher occupancy levels on its pontoon berths as the company once again did not register any super-yacht berth sales during 2010.

GHM reported a loss of €771,422 mainly due to the substantially higher net interest costs of €662,677. The directors did not recommend the payment of a dividend.

www.rizzofarrugia.com

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