4 - 10 October 2001

MSE index falls to lowest level since 1999

The Malta Stock Exchange Share Capitalisation Index has fallen to its lowest level since 11 November 1999 reaching 2,241.414 or a decrease of 44 per cent since its all-time high of 4,013,371 registered on 24 January 2000.
Hogg Capital Stockbroking Ltd said in their weekly report that all Maltese investors and large financial institutions are wondering where the Stock Exchange is heading from here. For example, the Lm1.30 threshold for Maltacom plc seems threatened as the number of shares unsatisfied between the lowest of Lm1.32 and Lm1.35 already amount to over 20,000 shares.
The best bid on the market consists of a single order for only a thousand shares at Lm1.24.
A number of equities have also hit lower limits. Three out of 11 listed companies are in a stalemate. These are HSBC, Lombard Bank and Globe Financial Management.