Minor movements within the MSE Equity market
The MSE Equity Price Index lost 0.13% to 3,874.856 points. The losses in IHI and RS2 outweighed the gain in Mapfre. Meanwhile, five other equities closed unchanged as overall trading activity remained subdued at €0.07 million. Download today’s Equity Market Summary.
International Hotel Investments plc declined by 0.8% to the €0.605 level on a single trade of 3,700 shares.
Similarly, the ordinary shares of RS2 Software plc ended 1.1% lower on negligible volumes.
Mapfre Middlesea plc added 0.9% to the €2.16 level on one deal of 2,395 shares.
In the retail banking sector, Bank of Valletta plc remained at the €0.88 level across two trades totalling 38,995 shares.
Malta International Airport plc traded flat at the €6.00 level as 2,170 shares changed hands.
Similarly, Malta Properties Company plc stayed at the €0.57 level on two deals totalling 20,800 shares.
A single deal of 900 shares left the share price of GO plc at the €3.36 level.
PG plc retained the €2.44 level on light volumes.
The RF MGS Index moved 0.04% to 1,091.126 points largely reflecting a reduction in yields of long-term MGS. Germany’s Ifo economic institute reduced the country’s GDP forecast for this year to 2.5% from 3.3% but increased the outlook for next year to 5.1% from the earlier projection of 4.3%. Economists noted that supply chain disruptions and unavailability of intermediate goods are slowing down the economic recovery. Meanwhile in the US, the two-day Federal Reserve monetary policy meeting will be concluded today and should provide updated economic projections for the US economy in context of the high levels of inflation reported in the past weeks and challenges brought by the ongoing pandemic.