• The MSE Equity Price Index trended higher for the fourth consecutive day as it added a further 0.41% to a five-week high of 4,681.163 points. Trading activity was very weak today as only €0.09 million worth of shares changed hands. Download a copy of today’s Equity Market Summary.
  • Yesterday’s rebound of 0.12% in the RF MGS Index was short-lived as it dropped by 0.11% today to 1,118.247 points. Euro zone sovereign yields rose significantly after US Federal Reserve chairwoman Janet Yellen strongly indicated that the Fed ought to continue tightening monetary policy despite unclear future inflationary trajectories. Higher yields were also fuelled by heightened expectations that US President Donald Trump will manage to introduce pro-business tax reforms and also on reports that Germany’s long-standing Finance Minister Wolfgang Schäuble is likely to leave post to become the speaker of the German parliament.
  • Positive sentiment towards Simonds Farsons Cisk plc persisted as the equity surged 5.5% to yet another record high of €9.50 on volumes totalling 1,534 shares. This afternoon Farsons published its interim financial statements for the six-month period ended 31 July 2017 showing a 7.5% increase in Group turnover to €49.2 million and a profit after tax of €5.7 million (+3.9%). The Directors declared an unchanged net interim dividend of €0.0333 per share to those shareholders as at close of trading on Monday 2 October. With respect to the spin-off of the company’s shareholding in Trident Estates Limited, it was stated that the necessary formalities for the transfer of the properties, the allotment of shares to existing Farsons shareholders, and the listing of the Trident Estates shares on the Malta Stock Exchange are all at an advanced stage, and are expected to be completed by the end of this year.
  • PG plc recaptured its all-time high of €1.425 (+1.8%) albeit on trivial volumes.
  • Low trading activity also took place in the equities of GO plc, HSBC Bank Malta plc and Malta International Airport plc which closed the day unchanged at €3.58, €1.91 and €4.41 respectively.
  • Also among the large companies by market capitalisation, Bank of Valletta plc maintained the €2.099 level across 11,802 shares.
  • Meanwhile, Malita Investments plc slipped by 0.5% to the €0.745 level on volumes totalling 42,339 shares.

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