The share index shed a further 0.16% during today’s trading session to 4,637.053 points largely due to the 2% drop in GO as well as declines in BOV, FIMBank, RS2 and Malta Properties.

The only positive performer was HSBC whilst MIA and GlobalCapital ended the session unchanged. Trading activity slumped to a new 2017 low with only €79,704.93 worth of shares changing hands during today’s session.

New sale orders forced the share price of GO 2% lower back to the €3.50 level albeit on a single trade of 2,800 shares.

Similarly, RS2 Software also shed 1.2% as the equity retreated to the €1.53 level on volumes of 11,815 shares. The IT Group is scheduled to hold its annual general meeting on June 20.

Bank of Valletta also trended in negative territory with a 0.2% dip to €2.17,5 across three deals totalling 12,585 shares.

In the banking sector, FIMBank also eased 0.6% lower back to the 77c5US level on shallow volumes of 2,457 shares.

The only other negative performer was Malta Properties Company with a minimal decline to 51c after failing to hold on to an intra-day high of 52c9 on volumes of 7,754 shares.

On the other hand, HSBC edged 1% higher to recapture the €2 level on just 2,000 shares.

Meanwhile, Malta International Airport shares held on to the €4.14,9 level on a single deal of 1,200 shares.

The only other active equity was GlobalCapital with 11,500 shares trading unchanged at the 34c level.

On the bond market, the RF MGS Index eased minimally lower today to 1,126.340 points as the benchmark 10-year German Bund yield remained at five-week lows of just under the 0.3% level.

On the economic front, a worse than expected reading of eurozone inflation at 1.4% for May justified the European Central Bank’s reluctance to unwind its stimulus measures. On the other hand, the unemployment rate across the eurozone dropped to a seven-month low.

www.rizzofarrugia.com

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