• The MSE Share Index closed in negative territory for the second consecutive session with a further 0.4% slide to a new 2-week low of 3,320.472 points largely due to the declines in IHI and MIA. FIMBank shares also eased lower whilst GO trended higher. On the other hand, BOV, HSBC and Lombard ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index continued to trend higher as it reached yet another all-time high of 1,081.761 points despite the further rise in the benchmark 10-year Eurozone yields. The latter jumped to an intra-day high of 1.104% following yesterday’s comments by the US Federal Reserve. Although the Fed committed itself to maintain interest rates at the current historically low levels for “a considerable time”, the President explained that once initiated, rate hikes will be faster than expected. Nonetheless, by this afternoon, the uptrend in Eurozone yields slowed down on the back of disappointing demand for the European Central Bank’s (ECB) loan programme (aimed at injecting liquidity into the region’s economy) which triggered fresh calls for alternative stimulus measures.
  • The share price of IHI shed a further 3.2% to a fresh all-time low of €0.60 albeit on low volumes of 566 shares. IHI’s equity currently ranks as the worst performer since the start of 2014 with a 36.8% plunge reflecting the adverse affect on the Group’s performance from the turmoil in Libya and Russia.
  • Meanwhile, MIA’s share price eased from yesterday’s record close of €2.36 back to the €2.35 level on low volumes of 3,700 shares. The airport operator’s equity had initially traded up to a new high of €2.39 at the start of the session before dropping back to the €2.35 level. MIA’s equity has continued to perform positively on the back of record passenger numbers during the first eight months of the year. Nonetheless, the recent media articles speculating on the widening financial losses at Air Malta may dampen sentiment towards the sector.
  • The only other negative performer during this morning’s session was FIMBank with 0.8% decline back to the USD0.66 level on low volumes of 4,500 shares.
  • On the other hand, the equity of GO moved 0.4% higher to regain its 6-year high of €2.56 on volumes of 8,740 shares.
  • On the other hand, BOV shares closed the session unchanged at the €2.22 level across nine deals totalling 10,821 shares.
  • Similarly, the share price of HSBC failed to hold on an intra-day high of €2.00 to end the session unchanged at the €1.98 level across 9,520 shares.
  • Likewise, the equity of Lombard maintained the €1.65 level on volumes of 1,670 shares.

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