Local equity market registers four-day winning streak
The MSE Equity Price Index closed higher for the fourth consecutive session as it ended 0.05% higher at 3,927.241 points reflecting the gain in BMIT. Meanwhile, six other equities closed flat as overall trading activity improved to €0.26 million. Download today’s Equity Market Summary.
BMIT Technologies plc advanced by 2.1% as it regained the €0.49 level on a single deal of 100,000 shares.
BMIT’s parent company, GO plc remained at the €3.40 level on seven trades totalling 13,990 shares after recovering from an intraday low at €3.34 (-1.8%).
Bank of Valletta plc continued to trade within a tight range and closed unchanged at the €0.90 level after recovering from an intraday low of €0.895 (-0.6%) as 13,515 shares changed hands.
BOV’s insurance associate, Mapfre Middlesea plc remained at the €2.14 level on a single deal with negligible volumes.
Malta International Airport plc also closed the session unchanged at the €6.00 level after failing to hold to an intraday high of €6.10 (+1.7%) on four trades totalling 13,150 shares.
The ordinary shares of RS2 Software plc recovered from an intraday low of €1.74 (-0.6%) to close unchanged at the €1.75 level as 29,448 shares changed hands across three deals.
Similarly, PG plc ended unchanged at the €2.44 level on two trades totalling 10,000 shares after recovering from an intraday low at €2.42 (-0.8%).
The RF MGS Index added 0.03% to 1,093.161 points reflecting marginal reductions in medium-term MGS yields. The Eurozone Markit Composite Purchasing Managers Index (PMI) for August was revised lower, albeit still indicating an expansion in business activity. The services sector was the main growth driver while the manufacturing sector grew at a slower pace. Meanwhile, Eurostat data showed that retail sales within the eurozone were 2.3% lower in July than a month earlier. Germany reported the largest monthly decrease as sales dropped by 5.1%. Elsewhere in the US, job creation data for August was well below expectations, but the unemployment rate dropped to 5.2% from 5.4% in line with estimates.