Most of the financial equities active during this morning’s session closed lower forcing the MSE Share Index down 0.5 per cent to a fresh five-month low of 3,487.405 points.
The share price of Bank of Valletta plc declined for the fifth consecutive session. BOV’s equity retreated by a further 0.9 per cent today to a fresh six-month low of €2.20 across 24 deals totalling 53,649 shares. BOV’s interim results to March 31 are due to be published by the end of next month.
Similarly, further selling pressure was evident in Lombard Bank Malta plc as the equity tumbled 1.8 per cent to a new 10-month low of €1.67 on low volumes of 5,000 shares. Similarly, the share price of Middlesea Insurance plc slumped 9.1 per cent back to the 90c level (thereby reversing all year-to-date gains) on a small deal of 270 shares.
On the other hand, the share price of RS2 Software plc advanced by a further 0.8 per cent to a new all-time high of €2.43 across 6,000 shares. The IT Group is scheduled to publish its 2013 full-year results on April 22.
Meanwhile, no change was recorded in the share price of Medserv plc at the €1.30 level on high volumes of 75,406 shares.
Yesterday evening, Medserv issued an announcement revealing that it has been awarded two contracts from two separate international oil companies (IOCs).
The contracts are for two years (with the option of extending for a further two years) for Medserv to provide support services to multi-well programs to be undertaken by the IOCs in offshore North Africa.
The works are scheduled to commence in the latter part of 2014. Furthermore, in a press release, Medserv also revealed that in view of the additional space required, the group has taken up a further 30,000 square metres of land in Hal Far (situated in close proximity to the group’s existing base in Malta).
Likewise, the equity of Malta International Airport plc traded unchanged at the €2.27 level (just below the all-time high of €2.28) on volumes of 35,000 shares.
Lower volumes were registered in GO plc as the equity recovered from an intra-day low of €2 to end the session unchanged at the €2.05 level across four deals totalling 5,155 shares. Similarly, MaltaPost plc ended this morning’s session unchanged at the €1.10 level on volumes of 5,275 shares.
The only other active equity was FIMBank plc with the equity ending the session unchanged at the 84c2US level across 6,000 shares.
On the bond market, the Rizzo Farrugia MGS Index jumped 0.2 per cent today to 1,027.040 as Eurozone yields slumped to an almost one-week low of 1.586 per cent.
The benchmark 10-year Bund this morning retreated on the back of disappointing data from Germany (business climate dampened by tensions in Ukraine) which triggered fresh calls on the European Central Bank to enact further stimulus measures. The ECB is scheduled to meet on April 3.
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