MSE Equity Price Index posts 3-day negative streak

 

The MSE Equity Price Index trended lower for the third consecutive trading session as it slipped by a further 1.43% to 3,823.348 points. Five equities ended the day lower while Lombard remained unchanged. Trading activity retracted to €0.07 million from €0.14 million yesterday. Download today’s Equity Market Summary.

Bank of Valletta plc dropped by 2.3% to the €0.86 level across six trades totalling 42,860 shares having a market value of €0.04 million and representing nearly 52% of today’s total value of equities traded.

The worst performing equity today was International Hotel Investments plc as it plunged by 9.5% back to the €0.57 level albeit on just 2,845 shares.

Also among the large companies by market value, Malta International Airport plc eased by 0.8% to the €5.95 level on volumes totalling 2,000 shares. The European Centre for Disease Prevention and Control placed Malta in the ‘orange list’ following the recent increase in the number of new COVID-19 cases.

Elsewhere, Malta Properties Company plc lost 7.0% to the €0.53 level on two deals totalling 11,000 shares.

Harvest Technology plc moved 2.6% lower to the €1.47 level on four deals totalling 6,540 shares.

Meanwhile, a single deal of 3,000 shares left the share price of Lombard Bank Malta plc at the €1.85 level.

The RF MGS Index gained 0.06% to 1,085.712 points as ECB Executive Board Member Isabel Schnabel dismissed concerns that the economy is slowing down due to inflation. While recognising that inflation will remain higher for longer than originally anticipated, she noted that this will gradually decline over the course of 2022. Meanwhile in the US, new jobless claims reached their lowest level since the start of the pandemic.