The MSE Equity Price Index extended its recent rally as it added a further 0.63% to an 11-month high of 4,544.278 points.
Five equities performed positively, including BOV, HSBC and Farsons, while only Malita Investments trended lower. Trading activity remained buoyant as a total of €0.55 million worth of shares changed hands.
Bank of Valletta plc surged by 2.2 per cent to regain the €1.38 level across 47,655 shares. The European Banking Authority is scheduled to publish the results of its various stress tests on major European banks including BOV by November 2, 2018.
Within the same sector, HSBC Bank Malta plc advanced by 1.1 per cent to the €1.83 level, albeit on trivial volumes.
A single deal of 2,310 shares pushed the equity of Simonds Farsons Cisk plc 0.6 per cent higher to the €8.00 level.
Positive sentiment towards MIDI plc and Malta Properties Company plc persisted. MIDI recaptured its all-time high of €0.72 (+1.4%) on robust volumes totalling 213,826 shares. On the other hand, MPC climbed 1.8 per cent to a fresh 2018 high of €0.575 across 119,644 shares.
In contrast, Malita Investments plc eased by 0.5 per cent from its over two-year high of €0.91 to the €0.905 level on activity totalling 38,000 shares.
Meanwhile, Main Street Complex plc (48,000 shares) and Plaza Centres plc (7,500 shares) closed the day unchanged at €0.65 and €1.03 respectively.
FIMBank plc held on to its 14-month high of $0.785 across 29,500 shares.
Similarly, the equity of GO plc maintained its 12-year high of €4.10 on activity totalling 32,462 shares. GO will be convening an extraordinary general meeting on Monday December 3, 2018 in relation to the proposed sale of up to 49 per cent of its shareholding in BMIT Technologies plc through an Initial Public Offering. In this respect, shareholders of GO as at close of trading on October 31, 2018 will be receiving notice of the EGM as well as a circular containing further details on the proposed partial sale of BMIT.
Four deals totalling 2,663 shares left Malta International Airport plc at the €6.15 level.
Monday's rebound in the RF MGS Index was short-lived as it eased by 0.07 per cent on Tuesday to 1.078.994 points. Changes in the prices of MGS continued to be impacted by the heightened volatility across financial markets reflecting uncertainties related to global trade and monetary policy normalisation by major central banks, as well as heightened geopolitical risks in general. On the economic front, fresh data in the eurozone was largely negative showing declines in import prices in Germany, slowing inflation in Italy and as well as a downbeat reading of sentiment amongst institutional investors and analysts.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.