Following yesterday’s significant decline of 0.92%, the MSE Equity Price Index closed virtually unchanged today at 4,664.410 points as the drops in FIMBank and Farsons were offset by the gains in BOV, MaltaPost and Malta Properties.
Most of today’s trading activity took place in the equity of Bank of Valletta plc which advanced minimally to the €2.101 level on robust volumes totalling 311,958 shares.
MaltaPost plc rebounded by 2.5% to the €1.95 level on a single deal of 2,320 shares.
The other positive performing equity today was Malta Properties Company plc. MPC’s share price surged 4.3% to the €0.529 level across 34,170 shares.
On the other hand, FIMBank plc dropped by 1.4% to its 2017 low of $0.70 across 20,000 shares.
Two deals totalling 1,176 shares pulled the equity of Simonds Farsons Cisk plc 0.3% lower to the €9.47 level.
Meanwhile, International Hotel Investments plc (10,930 shares) and HSBC Bank Malta plc (14,014 shares) closed the day flat at €0.60 and €1.90 respectively.
The RF MGS Index moved higher for the fourth consecutive day as it added a further 0.08% to a near two-week high of 1,121.425 points. Eurozone sovereign yields were mostly lower today as fresh economic data generally disappointed.
Meanwhile, the Austrian member of the ECB Governing Council was quoted as saying that the ECB is “aiming for the prospect of a cautious normalisation”, hinting for a gentle course of monetary policy tightening ahead of the next ECB monetary policy meeting scheduled for October 26.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.