The MSE Share Index extended yesterday’s drop of 0.19% by a further 0.27% to 4,610.314 points. Trading activity was limited to six equities whilst volumes decreased notably as only €0.21 million worth of shares changed hands.
Bank of Valletta plc was the worst performing equity today with a decline of 1.1% to the €2.155 level across 50,758 shares.
BOV’s insurance associate – Mapfre Middlesea plc – also trended lower to a fresh twenty-two month low of €1.98 albeit on trivial volumes.
On the other hand, FIMBank plc posted its first daily uplift in the last five trading sessions as it advanced by 0.6% to the $0.78 level across 54,429 shares.
Also in the financial services sector, HSBC Bank Malta plc maintained the €1.98 level across five deals totalling 29,342 shares.
International Hotel Investments plc and PG plc also closed the day unchanged at €0.62 and €1.27 respectively on insignificant volumes.
On the bond market, the RF MGS Index extended yesterday’s decline by a further 0.15% to a four-day low of 1,123.493 points as eurozone sovereign yields continued to climb after the announcement of positive economic data within the single currency area. In addition, comments made by the German Chancellor Angela Merkel fuelled speculation about the possible increased political pressure on the European Central Bank to clawback its ultra-accommodative monetary policy. Ms Merkel was reported as saying that Germany’s large current account surplus was due to the euro being “too weak” due to ECB’s current monetary policy.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.