IHI shares slump to 9-week low
The share price of International Hotel Investments plc dropped by 5.7% to a new nine-week low on volumes totalling 16,867 shares. The IHI Group still has to announce the date of its half-year results publication.
Similarly, the equities of Malta International Airport plc and Middlesea Insurance plc closed in negative territory with minimal declines to €1.73,9 and 62c respectively.
On the other hand, Bank of Valletta plc jumped by 2.4% to regain the €2.10 level across six trades totalling 2,924 shares with sizeable demand entering the market at the €2.05 level. Meanwhile HSBC Bank Malta plc remained inactive with the only buyers in the market at the €2.80 level.
Tomorrow is the last day to gain entitlement to the interim dividend on HSBC shares.
The only other active equity was Plaza centres plc which maintained the 55c level on a single trade of 5,000 shares in spite of the 9.6% increase in pre-tax profits to a record €0.685 million for the first half of the year.
This afternoon, Malita Investments plc published its allocation policy with respect to the recent share offer.
The company revealed that it received 1,239 applications for a total of 30.97 million shares compared to the maximum 30 million shares on offer.
Malita explained that all applications up to 1 million shares will be satisfied in full. Listing of the shares on the Official List of the Malta Stock Exchange will take place on Tuesday with trading expected to commence on August 13.
On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to 994.242 points as Eurozone yields raced to the 1.40% level.
However, by this afternoon, benchmark yields dropped back to the 1.35% level on renewed scepticism over further stimulus measures by the European Central Bank following the decision by both the US Federal Reserve and the Bank of England to delay any further measures.