Following last week's 1.3% drop, the MSE Share Index this morning slid another 0.4% to a new two-year low of 3,067.392 points.
Today's downturn was caused by declines in the share prices of the two large banks.
Bank of Valletta plc edged 0.8% lower to €2.42 on lower volumes than those traded last week as the equity turned ex-dividend.
Similarly, the share price of HSBC Bank Malta plc eased 2c lower to €2.63 across three trades totalling more than 20,000 shares.
On the other hand, GO plc's share price inched minimally higher to close this morning's trading session on the Stock Exchange at €1.02,1 on volumes of 2,660 shares.
Last week the quad-play telecom operator issued its interim directors' statement revealing a sustained healthy level of profitability and cash generation from local operations despite the current challenging economic climate and an increasingly competitive market.
The announcement, however, failed to provide an update on the performance of Forthnet in which GO has a substantial indirect investment.
Today marked the opening of subscriptions for the new Malta Government Stocks.
Two new MGS's are available for subscription by the public for amounts up to €100,000 (nominal).
These are the 4.25% MGS 2017 (III) and the 5.2% MGS 2031 (I) for a total aggregate amount of €100 million with an over-allotment option of another €44 million.
Subscriptions close on Wednesday. Application forms available from http://rizzofarrugia.com/news-events/2011/pricing-of-new-stocks-mgs11/ .
www.rizzofarrugia.com