Four equities push the MSE Equity Price Index higher

 

The MSE Equity Price Index rose by 0.71% to 3862.628 points as the gains in BOV, FIMBank, Malita and MaltaPost outweighed the decline in Malta Properties Company. Meanwhile, three other equities closed unchanged at today’s total trading activity amounted to €0.1 million. Download today’s Equity Market Summary.

FIMBank plc surged by 24.2% to the USD0.20 level albeit over trivial volumes. FIMBank is expected to publish its interim results next Wednesday 28 August.

Similarly, Malita Investments plc increased by 6.7% to the €0.48 level on a single deal of 5,000 shares. Malita is expected to publish its interim results next Wednesday 28 August.

Bank of Valletta plc moved 0.6% higher to the €1.68 level over five trades amounting to 6,500 shares.

MaltaPost plc gained 4.9% to the €0.43 level across six deals amounting to 39,000 shares.

On the other hand, Malta Properties Company plc fell by 1.1% to the €0.366 level on muted activity.

Meanwhile, Malta International Airport plc closed unchanged at the €6.10 level over twelve trades amounting to 10,975 shares.

GO plc traded flat at the €2.90 level as 266 shares changed hands.

Santumas Shareholding plc held the €1.30 level over three deals amounting to 3,682 shares. Santumas will publish its annual results next Wednesday 28 August.

The RF MGS Index fell by 0.26% to 905.853 points reversing most of yesterday’s gains. Yesterday, the ECB released the minutes of the ECB monetary policy meeting held in July, where the ECB had opted to leave the main deposit rate facility unchanged at 3.75%, following a cut last June. In this respect, the minutes indicated that the ECB would consider a rate cut during the September monetary policy meeting yet made no commitments. Notably, the ECB will use a data-driven approach to improve the eurozone’s deteriorating growth outlook while reducing sticky inflation, particularly in the services sector. In this respect, during an interview today Latvian Central Bank Governor Martins Kazaks stated that current data aligns with the ECB’s baseline projections which would be consistent with a gradual decline in interest rates. Furthermore, he stated that current data indicates a trajectory, in line with the two interest rate cuts by the end of the year which the ECB projected in June.