MSE Equity Price Index extends rebound
The MSE Equity Price Index moved 0.65% higher to 4,028.941 points on the back of the gains in the share prices of HSBC, MIDI and MaltaPost whilst six companies ended the day unchanged. Trading activity amounted to €0.15 million. Download today’s Equity Market Summary.
HSBC Bank Malta plc advanced by 3% to regain the €0.85 level across 10,077 shares.
MIDI plc was the best performing equity today as it surged by nearly 23% to the €0.43 level on a total of 113,000 shares.
MaltaPost plc trended 0.8% higher back to the €1.20 level on volumes of 10,000 shares.
The two largest companies by market value – Malta International Airport plc and Bank of Valletta plc – ended flat at €6.40 and €0.955 respectively.
Two deals totalling 6,775 shares left the ordinary share price of RS2 Software plc at the €1.96 level.
GO plc remained at the €3.38 level after opening at a high of €3.44 (+1.8%). A total of 3,067 shares changed hands.
Harvest Technology plc traded unchanged at the €1.53 level on light volumes totalling 2,812 shares.
PG plc also ended the day flat at the €2.24 level across 11,500 shares.
The RF MGS Index moved lower for the third consecutive session with a decline of 0.20% to 1,102.417 points. Yesterday, the US Federal Reserve left its monetary policy unchanged but hiked its inflation forecasts for 2021 to 3.4%, a substantial increase from March’s forecast of 2.4%. However, the central bank still expects inflation to retract closer to the 2% level in 2022. The updated projections show that the US economy is following a stronger pace of recovery which, in turn, could lead the central bank to hike its key interest rate in 2023 (a year earlier than previously anticipated). The Federal Reserve reiterated its commitment to maintain an accommodative stance of monetary policy to support economic recovery and achieve maximum employment.