IHI drags share index lower

The share index suffered a decline for the second consecutive day as it shed a further 0.29 per cent to 4,456.446 points, namely due to the decrease in the share price of IHI. Trading volumes decreased considerably to just €154,500. The equity of International Hotel Investments lost 5.4 per cent to drop back to the 70c level across 61,000 shares. Medserv shed 1.8 per cent to the €1.65 level across shallow volumes totalling 3,994 shares. Recently, the oil and gas logistics company unveiled that it was awarded two full service logistics contracts offshore Libya having an estimated value of between of €2 to €3 million. These are expected to commence in the second quarter of 2016 and will require Medserv to utilise both their Malta base facilities and their Libyan branch. The market now awaits the results of the Lapsed Rights offer and the commencement of trading in the bonds and new shares as from February 8. The other negative performer today was Malta International Airport which edged minimally lower to the €4.35 level across 7,450 shares. The company will announce its 2015 financial results on February 24. The board of directors will also be considering the payment of a final...

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