Mapfre Middlesea share price drops to 6-week low
The MSE Equity Price Index moved 0.22% lower to 3,867.223 points as the declines in six equities outweighed the gains in BOV and MIA. Meanwhile, IHI and MPC remained unchanged as overall trading activity improved to €0.14 million from just €0.07 million yesterday. Download today’s Equity Market Summary.
Mapfre Middlesea plc lost 1.9% to a 6-week low at the €2.12 level on three deals totalling 7,984 shares.
A single trade of 1,483 shares forced the share price of HSBC Bank Malta plc to move 3.6% lower to the €0.80 level.
In the technology sector, Harvest Technology plc dropped 3.2% to the €1.50 level on 10,000 shares.
BMIT Technologies plc declined by 0.8% to the €0.49 level as 10,000 shares changed hands.
BMIT’s parent company, GO plc, eased by 0.6% to a 5-week low of €3.30 on three trades totalling 2,390 shares.
International Hotel Investments plc traded flat at the €0.61 level on 11,000 shares.
Elsewhere, Malta Properties Company plc remained at the €0.57 level on a single trade of 2,390 shares. On Tuesday, Malta Properties announced that it entered into an agreement for the sale of the Birkirkara Old Exchange for €8 million. The agreement is valid for a period of twelve months.
Today’s best performing equity, Bank of Valletta plc advanced by 1.1% to regain the €0.88 level on three trades totalling 76,965 shares.
Malta International Airport plc added 0.8% to the €6.00 level on two deals totalling 2,800 shares. Yesterday, the European Centre for Disease Prevention and Control (ECDC) placed Malta back on EU’s travel green list along with a number of other EU countries.
The RF MGS Index extended yesterday’s decline by a further 0.02% to 1,083.876 points. Eurozone inflation exceeded expectations and reached the highest level in 13 years in September, at 3.4% according to preliminary data issued by Eurostat. The main contributor for the increase was energy, largely brought by the surge in fuel prices. In fact, the price of oil touched a three-year high while natural gas and coal reached record highs amid shortage in inventories within continental Europe. Meanwhile in the US, consumer spending in August was marginally higher than expected as the world’s largest economy continues to show signs of revival.