The MSE Equity Price Index added to Wednesday's gains as it advanced by a further 0.14 per cent to 4,499.303 points. The uplift reflects the increase in the share price of GO which outweighed the declines in three other shares while five equities closed the day unchanged. Trading volumes improved but remained relatively muted as €0.18 million worth of shares changed hands.
GO plc surged 2 per cent to the €4.02 level on seven deals totalling 6,302 shares.
In contrast, the equities of three property companies drifted lower on Thursday. Malita Investments plc slipped 1.1 per cent to the €0.88 level across 17,000 shares.
Plaza Centres plc and Malta Properties Company plc shed 1.9 per cent to €1.01 and 1.7 per cent to €0.57 respectively on low volumes.
On the other hand, MIDI plc (36,834 shares) and Trident Estates plc (500 shares) ended unchanged at €0.73 and €1.35 respectively. MIDI momentarily traded at a new all-time high of €0.74.
Bank of Valletta plc maintained the €1.35 level across 73,552 shares having a total value of €99,295 and representing 56.1 per cent of the total value traded during Thursday's session.
Similarly, HSBC Bank Malta plc retained the €1.80 level on just 1,853 shares.
A single deal of 5,000 shares left the equity of International Hotel Investments plc unchanged at the €0.63 level.
The RF MGS Index trended higher for the fourth consecutive day as it added a further 0.09 per cent to 1,083.830 points. Prices of MGS gained as bond yields in the euro zone moved lower amid a global sell-off in equities.
On Thursday, the Governing Council of the European Central Bank concluded its two-day monetary policy meeting during which the central bank left interest rates unchanged and signalled that despite the prevailing uncertainties across financial markets, the ECB will still proceed in bringing to end its current Asset Purchase Programme at the end of this year. During the customary press conference following the monetary policy meeting, ECB President Mario Draghi expressed his optimism that the eurozone is still going through a “broad-based economic expansion” although at a “weaker momentum” and noted his optimism on a positive conclusion regarding the current stand-off between the European Commission and Italy over the latter’s 2019 fiscal targets.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.