MSE Equity Share Index drops as volumes contract

The MSE Equity Price Index erased most of Monday's gains as it slipped by 0.46% to 4,371.498 points. Five equities trended in negative territory while another three equities traded unchanged. Volumes contracted noticeably as only €0.17 million worth of shares changed hands compared to €0.36 million on Monday. Bank of Valletta plc remained the most activity equity as 10 deals totalling 66,153 shares forced the equity to move 0.8% lower back to the €1.30 level. Among the large equities by market capitalisation, International Hotel Investments plc also trended in negative territory to close at the €0.60 level (-1.6%) albeit on trivial volumes. GO plc shed 1.5% to the €4.04 level on 5,410 shares and PG plc retreated by 0.8% to €1.32 across 15,300 shares. The worst performing equity on Tuesday was Trident Estates plc with a 2.3% decline to the €1.29 level on a total of 15,400 shares. Meanwhile, Malta Properties Company plc and Main Street Complex plc remained unchanged at the €0.515 and €0.64 levels respectively on light trading volumes. HSBC Bank Malta plc also ended the trading session unchanged at the €1.75 level on 10,385 shares. The RF MGS Index climbed 0.06% to 1,101.085 points...