In contrast to the uplift in the share index during the first two trading sessions of 2015, most of the active equities today closed lower sending the local equity benchmark down 0.5 per cent to 3,365.277 points.
Moreover, volumes contracted as only €31,354 worth of shares changed hands today (the lowest daily volume since late June 2014) as opposed to the high equity volumes yesterday.
In the banking sector, Bank of Valletta shares retreated by 0.4 per cent back to the €2.28 level on shallow volumes of 6,035 shares. The shares of BOV will continue to trade with the entitlement to the one for 11 bonus share issue until Tuesday.
Similarly, the share price of HSBC shed 0.5 per cent as it moved back to the €2.02 level on just 3,500 shares.
Likewise, GO dropped 1.2 per cent back to the €2.56 level on low volumes of 3,325 shares as shareholders await developments from the Greek telecommunication group, Forthnet.
In media articles published in the latter part of 2014, it was indicated that Vodafone and Wind Hellas intend to make a binding offer for Forthnet this month whilst OTE is expected to reveal a firm offer for Forthnet’s pay-tv business depending on the outcome of the country’s general elections scheduled to be held on January 25.
Midi also retreated on low volumes with the equity of the property-related equity slipping 8.3 per cent lower to the 22c level across two deals totalling 7,500 shares.
Meanwhile, Santumas Shareholdings held on to the €2 level on just a single trade of 20 shares. Likewise, insignificant volumes were transacted on the Alternative Companies List as 2,004 shares of Loqus Holdings traded unchanged at the 14c level.
On the bond market, the RF MGS Index trended higher for the fifth consecutive session with a further 0.3 per cent increase (the largest daily increase since December 2011) to yet another all-time high of 1,108.635 points as Eurozone yields continued to decline to fresh lows touching 0.432 per cent.
This reflects the continued threat of deflation (fuelled by falling oil prices) combined with the speculation on the next step by the European Central Bank and the political uncertainty in Greece.
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