The MSE Share Index drifted by a further 0.3 per cent during this morning’s session to close at an almost three-week low of 3,337.927 points.
Today’s decline was mainly due to the negative performances by Bank of Valletta plc and International Hotel Investments plc. BOV’s equity slid 0.6 per cent lower to the €2.23 level on volumes of 7,204 shares whilst IHI eased minimally lower to the 87c5 level on low volumes of 5,879 shares.
MIDI plc’s share price also closed in negative territory as the equity shed 15.3 per cent thereby re-testing its all-time low of 25c.
Activity was weak with only 9,000 shares changing hands.
Yesterday, MIDI issued its interim statement explaining that due to the lack of apartments available for sale, MIDI is expected to report a loss for 2013.
The delay in the granting of full development permits in respect of the last phase of the Tigné Point project left the company with only 12 apartments in stock at the start of 2013.
Out of these, MIDI sold five and concluded a promise of sale on another apartment since the start of the current financial year. Development works at Tigné Point recommenced in February with construction works of the first of two residential blocks known as T17.
On the other hand, HSBC Bank Malta plc moved 0.4 per cent higher to regain the €2.63 level across six trades totalling just over 4,800 shares.
This morning the Bank published its Interim Statement revealing an unchanged performance for January 1 to May 15 compared to the same period last year.
The director and CEO of HSBC Malta Mark Watkinson stated that HSBC continued to deliver positive results for shareholders against a very challenging European backdrop and he indicated that global conditions are set to remain difficult for the medium term.
GO plc recovered from an intra-day low of €1.52,1 to close this morning’s session with a 1.9 per cent gain over the previous closing level.
A total of 23,240 shares traded with the equity closing the day at the €1.58 level. Similarly, the share price of Malta International Airport plc moved one per cent higher to regain its all-time high of €1.95 on volumes of 2,268 shares.
Meanwhile, FIMBank plc held on to the US$1.02 level across four trades totalling 3,328 shares.
On the bond market, the Rizzo Farrugia MGS Index edged 0.1 per cent higher today to 1,020.265 points as Eurozone yields slipped marginally lower on renewed speculation of more action from the European Central Bank after the economic data published yesterday revealed that the Eurozone is still in recession.
This afternoon, the Treasury will be announcing the prices of the two new MGS issues on offer next week - the three per cent MGS 2019 and the 4.5 per cent MGS 2028.
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