MSE Equity Price Index sheds over 2%

MSE Equity Price Index sheds over 2%

The MSE Equity Price Index moved to its lowest level in nearly four months as it declined by 2.2% to 4,355.106 points.

A total of eight equities, including Farsons, MIA, GO and BOV, performed negatively while a further five equities closed the day unchanged. Furthermore, most equities traded on shallow activity while almost half of Wednesday's volumes took place in just two equities – namely MPC and BOV.

Bank of Valletta plc continued to trade within a tight range as it eased 0.7% to the €1.29 level across 45,350 shares.

Among the large caps, Simonds Farsons Cisk plc, Malta International Airport plc and GO plc also trended lower although on much lower volumes. Farsons shares slumped 9.7% to the €7.90 level on volumes of 2,051 shares and GO retreated by 2% to the €3.98 level on 2,240 shares.

MIA dropped 2.5% back to the €5.75 level on just over 5,000 shares. On Wednesday, MIA announced that its Board of Directors is scheduled to meet on Wednesday February 20, 2019 to consider and approve the company’s financial statements for the year ended December 31, 2018. The Board of Directors will also consider the declaration of a final dividend.

MaltaPost plc tumbled 24.1% to its lowest level in four years of €1.20 albeit on shallow activity.

Similarly, a single deal of just 1,580 shares forced the equity of Mapfre Middlesea plc to move almost 13% lower to the €1.83 level. On Wednesday morning, Mapfre Middlesea announced that its Board of Directors is scheduled to meet on Wednesday March 13, 2019 to consider and approve the financial statements for the year ended December 31, 2018. The directors will also consider the recommendation of a dividend.

In the property segment, Trident Estates plc plunged by 10.8% to the €1.32 level on insignificant volumes.

Malta Properties Company plc eased 0.9% to the €0.53 level across 125,240 shares.

On the other hand, MIDI plc retained the €0.67 level across 6,000 shares.

HSBC Bank Malta plc also closed the day unchanged at the €1.76 level after recovering from an intra-day low of €1.71 (-2.8%). A total of 21,359 shares changed hands.

International Hotel Investments plc held on to the €0.59 level on 47,031 shares.

A total of 2,326 shares of Grand Harbour Marina plc were exchanged at the equity’s all-time low of €0.60 and PG plc maintained the €1.34 level on trivial volumes.

The RF MGS Index extended its recent positive run as it trended higher for the fifth consecutive day to a fresh near six-month high of 1,100.163 points. Prices of Malta Government Stocks advanced higher despite a downturn across euro bond prices. International financial markets were largely dominated by the aftermath of the UK Parliamentary vote on Brexit. Meanwhile, the latest data in Germany showed that, in 2018, Europe’s powerhouse economy grew at 1.5% - its slowest rate in five years.

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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