The MSE Share Index shed 0.6 per cent today to 3,465.95 points following declines in the share prices of the two large banks and MIDI plc.

HSBC Bank Malta plc dropped 1.5 per cent to €2.65 (the lowest level since the first week of June) on volumes of 14,240 shares. The equity is trading without the entitlement to the net interim dividend of 6c5 per share payable on September 5.

The share price of Bank of Valletta plc ended the day 0.8 per cent lower at €2.38 after partially recovering from an intra-day low of €2.36,3. Volumes increased to just over 30,000 shares during today’s session.

The worst performer of the day was MIDI plc with a decline of 2.1 per cent. Yesterday 220,000 shares traded at the all-time low of 24c. After regaining the 25c level on weak volumes at the start of today’s session, the equity dropped to a new low of 23c5 on volumes of 100,000 shares.

MIDI recently issued a press release announcing that all 281 apartments launched since 2002 have been sold. Furthermore, all the retail space is leased out with the exception of one outlet on the piazza.

The press release also noted that the next phase (namely the residential block known as T17 East), is currently under construction and will be released for sale shortly. A ‘show apartment’ is expected to be completed by autumn. Subsequently, MIDI will be developing a business centre comprising 14,000 square metres of office space.

Malta International Airport plc continued to trade at its three-month low of €1.95 with a further 3,503 shares changing hands at this level.

GO plc also closed unchanged at €1.64,5 after recovering from a low of €1.60. Only 3,311 shares traded today.

On the bond market, the Rizzo Farrugia MGS Index closed minimally higher for the second consecutive day as eurozone yields eased and the longer-dated MGS’s were priced higher. Today, Medserv plc published the prospectus detailing the conditions under the €20 million debt issuance programme. Details of the first tranche under the programme have yet to be announced.

www.rizzofarrugia.com

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