• Trading activity across local equities strengthened for the second consecutive session with just under €0.6 million worth of shares changing hands today. The MSE Equity Price Index added a further 0.17% to 4,394.076 points on the back of positive movements in BOV, RS2, Farsons and a further two equities. On the other hand, five equities including HSBC and PG trended lower whilst a further six equities ended the session unchanged. Download a copy of today’s Equity Market Summary.
  • The RF MGS Index slipped back into negative territory with a 0.15% drop to 1,097.203 points. Yesterday afternoon, the US Federal Reserve announced its second rate hike for 2018 and is planning a further two rate hikes this year on the back of the momentum being registered by the US economy. Meanwhile, this afternoon, the European Central Bank (ECB) announced that it will be reducing its monthly asset purchases by half to €15 billion a month between October and December and will be ending its purchases by the end of the year. Nonetheless, the ECB reiterated its commitment to maintain its benchmark interest rate at the prevailing historic low levels until at least the summer of 2019.
  • Bank of Valletta plc moved 0.6% higher to regain the €1.75 level albeit on relatively low volumes of 10,650 shares.
  • Likewise, the share price of Lombard Bank Malta plc edged 0.9% higher to close today’s session at the €2.28 level on volumes of 26,273 shares.
  • RS2 Software plc continued to recover from recent declines with a rise of a further 3.3% to the €1.25 level on volumes of 30,892 shares. RS2 is scheduled to hold its Annual General Meeting next Tuesday 19 June.
  • Simonds Farsons Cisk plc advanced by 2.3% to recapture the €6.70 level across 12,720 shares. Farsons is scheduled to hold its Annual General Meeting on 21 June.
  • The only other positive performing equity was Trident Estates plc with a 0.8% uplift to the €1.31 level across five deals totalling 25,727 shares.
  • On the other hand, HSBC Bank Malta plc eased by 0.6% to €1.81 on just 876 shares.
  • Various property related equities trended in negative territory today amid strong volumes. MIDI plc eased by 0.9% to €0.42 across 64,704 shares and Malita Investments plc retreated by 2.4% to €0.83 on volumes of 45,000 shares. Similarly, Malta Properties Company plc slipped 1.8% lower to €0.54 on a single deal of 18,100 shares.
  • PG plc also trended lower today with a 3.1% drop back to the €1.25 level across seven deals totalling 52,235 shares.
  • Meanwhile, a further five equities ended today’s session unchanged. Most notably, Tigné Mall plc held on to the €0.95 level on strong volumes of 100,075 shares. Encouraging volumes were also transacted in Plaza Centres plc as the equity maintained the €1.04 level across four deals totalling 82,600 shares.

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