The MSE Share Index this morning registered its 14th daily decline across the 18 sessions held this month mainly reflecting the selling pressure across the three largest equities by market capitalisation particularly the two large banks.
Most of the other active equities today also closed lower. The share price of HSBC Bank Malta plc ended the session 0.2 per cent lower at the €2.39,5 level after only partially recovering from an intra-day low of €2.38 on volumes of 20,695 shares.
Yesterday, the bank issued the 2013 annual report containing the chairman’s statement in which he highlighted the adverse effects on the group’s performance emanating from the new regulations being imposed on EU banks.
Malta International Airport plc initially regained its all-time high of €2.28 before easing back to the €2.26 level representing a 0.4 per cent drop from the previous closing price. Similarly, the share price of GO plc slipped by 2.5 per cent to the €2 level on low volumes of 2,720 shares.
Low volumes were also registered in Lombard Bank Malta plc with a further 0.6 per cent drop to the €1.66 level across 4,000 shares. Likewise, the share price of 6pm Holdings plc shed 4.2 per cent to 68p on just 2,500 shares. MIDI plc was the worst performer shedding 7.1 per cent to close again at its 2014 low of 26c on total activity of 111,170 shares.
On the other hand, in contrast to yesterday’s 8.5 per cent plunge, International Hotel Investments plc edged marginally higher today to close at 77c2 on a single deal of 1,551 shares.
Meanwhile, the share price of Bank of Valletta plc ended this morning’s session unchanged at the €2.20 level after recovering from an intra-day low of €2.18 across 32,440 shares. Similarly, Simonds Farsons Cisk plc maintained its all-time high of €3 on just 2,000 shares. RS2 Software plc also held on to its record level of €2.43 on low volumes.
Medserv plc also closed the day unchanged at the €1.30 level on volumes of 17,800 shares. In the last two weeks, Medserv announced three contracts relating to logistical and support services to different exploratory and production well projects.
One of the contracts is with ENI (Cyprus) Ltd and will be serviced out of the group’s base in Cyprus during the next three years with an option to extend for a further two years.
The other two contracts, relating to two separate international oil companies, will be serviced from the Malta base which is now also supported by an additional 30,000 square metres of land in Hal Far. The term of these two contracts is for two years with an option to extend by a further two years.
On the bond market, the Rizzo Farrugia MGS Index edged 0.1 per cent higher to 1,028.163 points as Eurozone yields eased lower to 1.547 per cent in view of the lingering tension between Ukraine and Russia as EU and US mull further sanctions against Russia whilst providing financial aid to Ukraine.
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