The MSE share index trended lower for the third time this week with a further 0.4 per cent drop to 3,350.227 points representing a 9.1 per cent drop since the start of the year.

Today’s decline in the local equity benchmark was mainly due to the 0.9 per cent drop in the share price of Bank of Valletta plc to €2.10 across 18 trades totalling 43,135 shares.

Similarly, the equity of Middlesea Insurance plc slumped 4.4 per cent to a new six-month low of 88c on low volumes of 1,352 shares.

Island Hotels Group Holdings plc shares also touched a new 2014 low of 77c before partially recovering to end this morning’s session at the 82c level representing a 3.5 per cent drop from the previous closing price across 5,000 shares.

On the other hand, the equity of Malta International Airport plc failed to hold on to an intra-day high of €2.30 but still ended the session marginally higher at the €2.27,5 level on volumes of just over 4,000 shares.

Meanwhile, no change was registered in the share price of HSBC Bank Malta plc at the €2.07 level after recouping from its 2014 low of €2.05 on low volumes of 3,253 shares. Similarly, Lombard Bank Malta plc held on to the €1.46 level on a single deal of 548 shares.

The only other active equity was GO plc which maintained the €2.01 level on shallow volumes of 1,500 shares.

On the bond market, the Rizzo Farrugia MGS Index moved a further 0.1 per cent higher to yet another all-time high of 1,048.415 points as Eurozone yields continued to decline to 1.333 per cent in view of further stimulus measures by the European Central Bank (ECB) and the more accommodative stance than expected adopted by the US Federal Reserve.

The recently issued 4.3 per cent MGS 2033 bond climbed to 102.99 per cent, representing an increase of 224 bp from the recent offer price of 100.75 per cent.

www.rizzofarrugia.com

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