MSE Equity Price Index falls below the 4,000 mark
The MSE Equity Price Index dropped by 1.26% to 3,979.468 points following the declines in BOV, BMIT, HSBC, IHI, RS2 and MaltaPost. Meanwhile, GO was today’s only positively performing equity whilst MIA closed unchanged as overall trading activity remained muted at €0.06 million. Download today’s Equity Market Summary.
In the banking sector, HSBC Bank Malta plc lost 4.2% as it returned to the €0.805 level across a single trade of 1,050 shares whilst Bank of Valletta plc continued to trade in a tight range as it slipped by 1.1% to the €0.89 level across 12,238 shares.
Also among the larger equities by market cap, International Hotel Investments plc plunged by just over 8% to the €0.625 level across 3,000 shares.
RS2 Software plc recovered from an intraday low of €1.78 (-8.9%) to close at the €1.90 level (-2.6%) as 2,311 shares changed hands.
In the same sector, a single trade of 4,000 shares forced BMIT Technologies plc nearly 1% lower to the €0.50 level.
Elsewhere, MaltaPost plc shed 0.8% to the €1.24 level across a single trade of 453 shares.
GO plc climbed by 3.4% as it recaptured the €3.60 level across 2,007 shares.
Meanwhile, Malta International Airport plc traded flat at the €6.25 level as 4,800 shares changed hands.
The RF MGS Index fell for the third consecutive session with a drop of a further 0.05% to 1,107.594 points as eurozone sovereign yields continued their upward trend as confidence among eurozone manufacturers rose to its highest level in nine years. Meanwhile, the European Commission started a two-month evaluation process to review the spending plans of member states for the €750 billion EU Recovery Fund. Such funds are anticipated to be available by the end of summer, if approved by the national governments. This lengthy process was recently criticised by the French finance minister Bruno Le Maire amid data showing that the US and China have managed a quicker recovery.