Improved equity market trading activity

Improved equity market trading activity

The MSE Equity Price Index opened the week in negative territory as it eased by 0.34% to 4,451.634 points.

The decline was mostly driven by the drops in the share prices of GO, FIMBank and BOV. On the other hand, HSBC and MIDI trended higher while a further six shares closed the day unchanged. Trading volumes improved markedly to €0.63 million, with activity in MIDI, BOV and Farsons representing 77% of the total value of equities traded.

Bank of Valletta plc retracted by 0.4% to the €1.29 level after partially recovering from its multi-year low of €1.28. A total of 123,692 shares changed hands.

GO plc lost 2.9% to the €4.02 level albeit on just 2,715 shares.

Low trading activity also took place in the equity of Tigné’ Mall plc which moved back by 0.5% to the €0.96 level.

FIMBank plc shed 1.4% to the $0.71 level across 105,000 shares.

Also in the banking sector, HSBC Bank Malta plc regained the €1.76 level on 16,640 shares. The bank is due to publish the financial results for the 2018 financial year on February 19, 2019.

MIDI plc added 0.8% to recapture the €0.67 level on strong volumes totalling 369,000 shares.

Meanwhile, Trident Estates plc retained the €1.48 level on trivial activity.

Simonds Farsons Cisk plc (10,660 shares) and PG plc (3,697 shares) traded unchanged at €8.75 and €1.35 respectively.

Malta International Airport plc held on to the €5.90 level after rebounding from an intra-day low of €5.80. A total of 3,250 shares traded. The airport operator is soon expected to publish its 2018 traffic results as well as its passenger and financial forecast for 2019.

International Hotel Investments plc (€0.60) and Loqus Holdings plc (€0.077) also ended the day unchanged albeit on insignificant volumes.

The RF MGS Index trended higher for the third consecutive day as it added a further 0.07% to 1,097.393 points (the highest level since the end of July 2018).

Prices of Malta Government Stocks gained amid increased perceived risks across financial markets following the publication of disappointing economic data in China and ahead of the UK Parliament vote on Brexit on Tuesday.

Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.

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