The MSE Share Index erased some of yesterday’s gains as it retreated by 0.21% to 4,644.377 points from its over two-week high of 4,654.001 points. Eleven equities were active although volumes dropped to a near seven-week low as only €0.09 million worth of shares changed hands.

In the retail banking sector, Bank of Valletta plc and HSBC Bank Malta plc eased back to the €2.18 (-0.5%) and €1.98 (-1%) levels respectively on shallow volumes.

Simonds Farsons Cisk plc slipped minimally from its all-time high of €7.551 to the €7.55 level across two deals totalling 3,680 shares. Farsons is due to hold its Annual General Meeting (AGM) on June 27 during which shareholders will be asked to consider and approve the spin-off of Trident Estates Ltd into a separate company listed on the Malta Stock Exchange.

In contrast, PG plc rebounded by 1.6% from its near three-week low of €1.26 back to the €1.28 level across 2,040 shares.

Malta International Airport plc also trended higher today with a gain of 0.1% to the €4.149 level across 9,449 shares.

Meanwhile, six equities finished the day unchanged, including four property-related companies, on light volumes. MIDI plc and Malita Investments plc maintained the €0.315 and €0.72 levels respectively.

Likewise, a single deal of just 228 shares left the equity of Malta Properties Company plc at the €0.511 level while Plaza Centres plc retained the €1.04 level across 1,000 shares.

International Hotel Investments plc closed flat at the €0.62 level across 11,000 shares.

On the Alternative Company List, Loqus Holdings plc maintained the €0.17 level on 10,195 shares

On the bond market, the RF MGS Index extended yesterday’s gains by a further 0.07% to a near seven-week high of 1,126.707 points. While the yield on the 10-year benchmark German Bund fell to its lowest level in over five weeks, the corresponding yields of the two largest peripheral countries – Spain and Italy – advanced amid heightened political uncertainty in Italy related with the possibility of early Parliamentary elections and renewed uncertainty in Greece over the need for the country to obtain further debt relief in order to be able to handle its dire financial situation. On the economic front, several key readings were issued today, most of which either disappointed or else were in line with forecasts.

www.rizzofarrugia.com

Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.