The MSE Equity Price Index opened the month of October in positive territory as it added a further 0.56% to a three-month high of 4,408.077 points. The strong performance was driven by the gains in the share prices of five companies which outweighed the declines in three other equities. Trading volumes remained buoyant as €0.39 million worth of shares changed hands.
Malta International Airport plc advanced 1.7% to yet another record high of €6.15 across 19,682 shares.
HSBC Bank Malta plc also rose by 1.7% to regain the €1.78 level on activity totalling 19,300 shares.
Both GO plc (5,044 shares) and FIMBank plc (77,435 shares) surged by 1.6% to €3.70 and USD0.64 respectively. The equity of GO has now reached its highest level since late October 2006 whilst FIMBank is at its highest level in over seven months.
Positive sentiment towards Simonds Farsons Cisk plc persisted as the equity gained a further 1.3% to its highest level since late January 2018 of €7.80 on volumes totalling 7,760 shares.
On the contrary, Bank of Valletta plc moved back to its six-year low of €1.44 (-0.7%) across 60,644 shares.
Malta Properties Company plc shed nearly 5% back to the €0.50 level whilst Loqus Holdings plc tumbled 40% to a new all-time low of €0.051. Trading activity in both equities was minimal.
Low volumes were also transacted in GlobalCapital plc and MIDI plc which maintained the €0.256 and €0.565 levels respectively.
Trident Estates plc also closed the day unchanged at the €1.34 level on two deals totalling 8,712 shares. Last week, the company explained that the Trident Park project is proceeding as planned and should be able to receive its first tenants at the start of 2021.
Extended downward pressure on the prices of Malta Government Stocks forced the RF MGS Index to drop by a further 0.02% to a fresh four-year low of 1,084.123 points, as eurozone bond yields surged amid positive developments related to trade between the US and Canada. Meanwhile, in Italy, following last week’s increased uncertainties over the country’s fiscal position, new data published today showed that the unemployment rate dropped below the 10% level for the first time in over six years.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.