GO slumps 6.1% to a new 17-month low
Selling pressure intensifies in GO plc following last week’s financial results announcement which left many shareholders disappointed.
The share price was forced lower by 6.1 per cent during this morning’s session to close at a new 17-month low of €1.55 across six trades totalling 5,000 shares.
Offers already placed below today’s closing price whilst best bids now stand at €1.50,1. Following this week’s decline, GO now ranks amongst the worst performing equities this year with a year-to-date drop of 19.9 per cent.
Middlesea Insurance plc also succumbed to fresh sell orders as its share price retreated by four per cent to €0.96 across seven trades totalling 4,500 shares.
Lombard Bank Malta plc ended marginally lower as it turned ex-div today although it traded 1.7 per cent higher on the week over heavy activity.
The two big bank’s equities recovered during this morning’s trading session.
HSBC Bank Malta plc moved 0.7 per cent higher to regain the €2.92 level on volumes of 1,500 shares, ending the week 1.1 per cent higher.
Bank of Valletta plc gained 0.5 per cent to close at the €2.91,5 level across five trades totalling 4,370 shares. Nonetheless, BOV ended the week just under one per cent lower on very low volumes.
A new all-time high for MaltaPost plc as its share price is lifted minimally higher to the €1.10,1 level on volumes of just over 3,600 shares. The postal operator currently ranks as the best performing equity this year with a year-to-date increase of 10.1 per cent.
Overall, the MSE Share Index closed in negative territory for the third time this week with another 0.2% decline during this morning’s trading session to close at 3,478.545 points – the lowest level since December 6.
Following the eight successive weekly downturn, the local equity benchmark is now eight per cent below its value at the beginning of the year.
The Rizzo Farrugia MGS Index also slipped 0.3 per cent lower this week to 976.847 points as the benchmark 10-year Eurozone yields regained the 3.25 per cent level on the back of strong indications that the ECB will be increasing its reference interest rate next month.
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