The share price of Bank of Valletta plc lost a further 1.9 per cent today to close at a five-month low of €3.14.

Just under 8,900 shares traded as investors possibly reacted negatively to the newspaper report that Prime Minister Lawrence Gonzi said that Malta agrees in principle to the introduction of the new bank levy proposal as long as this is introduced on a global level. BOV’s equity was the worst performer this week with a decline of 3.4 per cent.

On the other hand, HSBC Bank Malta plc maintained the €2.84 level on volumes of 11,410 shares with further offers remaining unsatisfied at this level. Among the larger caps, International Hotel Investments plc shed 0.7 per cent to €0.81,9. The declines in BOV and IHI forced the MSE Share Index to drop by 0.48 per cent to a new 2010 low of 3,381.738 points.

Middlesea Insurance plc continued to buck the overall trend in the equity market and advanced by a further 2.1per cent to a new 2010 high of €1.05,2. This week, Middlesea climbed 10.7 per cent. Elsewhere, GO plc, Malta International Airport plc and Simonds Farsons Cisk plc closed unchanged.

On the bond market, the public offering of the Tumas Investments plc bond issue closed shortly after opening due to over-subscription.

The company exercised its over-allotment option of an additional €5 million, bringing the total bond issue to €25 million. The six per cent Simonds Farsons Cisk plc bonds rose by a further 45 basis points to 102.95 per cent while there was heavy trading activity in the 5.25 per cent MGS 2030.

A total of €463,800 traded with the price edging 40 basis points higher to 102.90 per cent.

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