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Trading volumes reach two-week high

 

The MSE Equity Price Index slipped by 0.64% to 4,288.347 points as several equities ended the day in negative territory whilst only MPC and Plaza trended higher. Trading volumes continued to increase to reach a two-week high of €0.59 million, mostly driven by heightened activity in MIA and Farsons.

Malta International Airport plc eased by 0.9% to the €5.50 level across 27,474 shares.

Both Simonds Farsons Cisk plc (21,773 shares) and Bank of Valletta plc (33,998 shares) shed 0.7% to the €7.35 and €1.505 levels respectively.

Amongst the large caps, GO plc retreated by 0.6% to the €3.42 level after only partially recovering from an intra-day low of €3.40 across shallow volumes of just 2,050 shares.

Low volumes registered in RS2 Software plc as the equity was forced 4.2% lower back to the €1.14 level. The Company’s Board of Directors is scheduled to meet today to consider and approve the interim financial statements as at 30 June 2018.

In the property segment, MIDI plc shed 4.7% to move back to the €0.51 level across 195,000 shares whilst Trident Estates plc retracted 1.5% to the €1.31 level on a single deal of just 1,503 shares. MIDI is due to publish its interim results on 30 August.

In contrast, Plaza Centres plc added 1% to regain the €1.03 level on volumes of 19,500 shares.

Malta Properties Company plc advanced by 0.4% to the €0.488 level albeit on trivial volumes.

Meanwhile, HSBC Bank Malta plc retained the €1.80 level across 45,893 shares.

Similarly, Lombard Bank Malta plc held on to its near five-month high of €2.40 on 3,850 shares.

The RF MGS Index moved lower for the fourth consecutive day as it eased by a further 0.25% to a near four-year low of 1,089.518 points. Eurozone sovereign yields rose markedly today as the US and Mexico reached an agreement on issues related to trade, raising hopes that Canada too will now join the two countries to preserve the overarching objectives of the North American Free Trade Agreement (NAFTA).

Across the single currency area, fresh data showed that the pace of growth in private sector loans held steadily at a multi-year high of 3%. Meanwhile, the chief economist of the European Central Bank (ECB) warned that the central bank needs to keep a close eye on the risks associated with ultra-loose monetary policy even though “patient, prudent and persistent monetary policy is still needed.”

www.rizzofarrugia.com

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