The share Index moved higher for the first time in the last four trading sessions as it gained 0.19% to 4,727.263 points largely due to the uplift in FIMBank.A further three equities trended marginally higher whilst two equities, namely HSBC and RS2, moved lower. Another three equities, including BOV, IHI and Medserv, ended the session unchanged. Weak volumes were today registered across the local equity market as only €0.15 million worth of shares changed hands.

A further three equities trended marginally higher whilst two equities, namely HSBC and RS2, moved lower. Another three equities, including BOV, IHI and Medserv, ended the session unchanged. Weak volumes were today registered across the local equity market as only €0.15 million worth of shares changed hands.

The most actively traded equity was HSBC which slipped by 0.9% to the €2.02,2 level across 23,182 shares. The bank is scheduled to publish its full-year financial results next Tuesday.

RS2 Software extended its recent declines as it eased by a further 0.1% to a fresh near two-month low of €1.69,9 across three deals totalling 5,894 shares.

On the other hand, a single deal of 3,100 shares pushed the equity of Malta International Airport minimally higher to close at the €4.15,1 level. The company is due to reveal its 2016 full-year financial results next Wednesday.

FIMBank rebounded from last Tuesday’s 4.5% drop as the equity was lifted 5.3% higher today to regain the 89c5US level across 29,000 shares.

The other negative performing equities today were Tigne’ Mall and Mapfre Middlesea which declined by 0.8% and 0.5% back to the €1.13 and €2.23 levels respectively albeit on shallow volumes.

Light trading activity also took place in the equities of International Hotel Investments and Medserv which closed unchanged at 65c and €1.60 respectively.

Similarly, Bank of Valletta closed unchanged at the €2.18,5 level for the third consecutive trading session after failing to hold on to an intra-day high of €2.19 across a total of 20,105 shares.

On the bond market, the RF MGS Index extended yesterday’s 0.12% drop with a further 0.08% to a three-day low of 1,120.793 points during today’s session. Eurozone sovereign yields gained further ground today (bond prices fell) in response to renewed expectations that the US Fed will raise interest rates in the coming months.Indeed, international financial media reported Fed Vice Chair Mr Stanley Fischer as saying that while the Central Bank’s current monetary policy remains accommodative, it is right in removing monetary stimulus. Meanwhile, minutes from the European Central Bank’s most recent monetary policy meeting revealed policy-makers’ concern over the political uncertainties at

Indeed, international financial media reported Fed vice-chair Stanley Fischer as saying that while the Central Bank’s current monetary policy remains accommodative, it is right in removing monetary stimulus.

Meanwhile, minutes from the European Central Bank’s most recent monetary policy meeting revealed policy-makers’ concern over the political uncertainties at global level and within the eurozone.

The governing council acknowledged that scaling back stimulus could risk derailing the inflation progress achieved so far and that underlying inflation (excluding volatile prices like energy) lacks a convincing upward trend.

www.rizzofarrugia.com

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