The local equity market closed in negative territory for the second consecutive session as the MSE Share Index slid another 0.5% lower to a new 33-month low of 2,933.452 points reflecting the drop in most of the active equities.
The share price of HSBC Bank Malta plc fell 1.6% lower to the €2.51 level across two trades totalling 15,000 shares. Similarly, new sell orders pushed Bank of Valletta plc's equity 0.4% lower to the €2.12,2 level – just 1c higher than its 2011 low. A total of 8,467 BOV shares changed hands today.
MaltaPost plc shares also closed this morning's trading session in negative territory giving 1.1% to end at 93c on a single trade of just over 2,000 shares.
On the IT front, Crimsonwing plc slid 11% back to the equity's all-time low of 16c across six trades totalling 74,750 shares. Meanwhile RS2 Software plc held on to the 55c level across three trades totalling 26,600 shares.
The only other active equity, GO plc marginally recovered from yesterday's 9.9% drop with a 1.2% rise during this morning's session to close at the 76c5 level. 46,500 shares changed hands today.
On the bond market, the Rizzo Farrugia MGS Index eased marginally lower to 982.315 points after Eurozone yields edged higher this morning. However the region's yields dropped back to a low of 1.78% by the afternoon on renewed concerns over Spain's ability to sustain its sovereign debt.
Moreover, fears are also mounting over Portugal which may need to resort to further financial help in the future according to European Economic and Monetary Affairs Commissioner Olli Rehn.
In the meantime, as widely expected, the European Central Bank maintained its interest rate at the historically low level of 1% amid recession fears which offset pressures to combat rising inflation.
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