Trading volumes on the stock exchange this morning dropped for the third consecutive session to the lowest levels in 2014. Amid the declining volumes, the MSE Share Index slid below the 3,700 points level. The local equity benchmark lost 0.3% to 3,689.893 points following declines in three of the active equities including Bank of Valletta plc. The Bank’s equity retreated by 0.6% to €2.48 across five deals totalling 3,132 shares.

Similarly, GO plc slid 1% lower from its four-year high to €2.08 on low volumes of 5,350 shares. The other negative performing equity was FIMBank plc with a 3.2% decrease to US$0.90 on just 355 shares.

On the other hand, the share price of HSBC Bank Malta plc inched minimally higher to €2.55 across seven deals totalling 6,725 shares. Similarly, a single trade of 1,000 shares Simonds Farsons Cisk plc traded at the €2.97 representing a marginal increase from the previous closing price.

Meanwhile, the equity of Island Hotels Group Holdings plc held on to the €0.90 level on a single deal of 5,000 shares. The Group announced that it has been awarded the right to develop the Costs Coffee brand in Spain (East Coast), the Balearic Islands and the Canary Islands by opening up to 75 stores over the next five years.

The directors explained that the opportunity is in line with the strategy of the Island Hotels Group of continuing to grow the area of its catering business and the first opportunity to expand its operations and expertise into the international market. Moreover, this afternoon, Island Hotels announced that it entered into a promise of sale agreement for the sale of its shares in Coastline Hotel Limited for a gross consideration of €14 million.

On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 1,025.674 points as Eurozone yields remained relatively unchanged at around the 1.68% level.

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