Subdued trading activity persists
The MSE Equity Price Index eased by a further 0.53% to 3,891.685 points as the declines in BOV and IHI outweighed the gains the GO and HSBC. Meanwhile, overall trading activity remained stubbornly low at just over €35,000. Download today’s Equity Market Summary.
HSBC Bank Malta plc rebounded off its 9-month low as it rose by 3.8% to return to the €0.81 level on two deals totalling 2,853 shares.
GO plc eked out a 0.6% gain as it recaptured the €3.40 level on activity of 3,000 shares.
Meanwhile, Bank of Valletta plc shed 0.6% to a 3-week low of €0.89 as 25,669 shares changed hands.
Today’s other negatively performing equity was International Hotel Investments plc which tumbled by 7.1% to the €0.65 level across a single deal of insignificant volumes.
The RF MGS Index declined by 0.08% to 1,091.201 points – marking its lowest level since 9 January 2019. Today, Germany’s ZEW economic research institute said its survey of investors’ economic sentiment fell for the fourth consecutive month to 26.5 points from 40.4 points in August. The President of the ZEW President cited that although market experts expect the economic situation to improve, chip shortages in the automotive sector and scarcity of resources in construction have significantly impacted expectations and could slow down the growth rate of Europe’s largest economy. Meanwhile, eurozone quarterly economic growth data for the second quarter of 2021 was revised higher to 2.2%, representing a solid rebound following two consecutive periods of contractions, amid a recovery in activity and domestic demand following the reopening of the bloc’s economies.