The MSE equity price index advanced by 0.46% to 3,632.228 points reflecting the gains in the share prices of BOV and MIDI.
Meanwhile, IHI and PG traded unchanged as overall activity in equities contracted sharply to just €0.02 million.
Tuesday's main highlight was the announcement made by Lombard Bank Malta plc in which the bank expressed its intention to tap the local capital market for the purpose of issuing new shares.
In this respect, Lombard will be holding an extraordinary general meeting on November 10 to obtain the necessary approval from shareholders as at close of trading on October 7.
Meanwhile, Lombard also rolled out an updated business strategy with a view of positioning the bank for its next stage of growth and development.
Lombard explained that the implementation of the updated strategy will comprise further investments in the distribution channels, IT infrastructure, customer relationship management systems and human resources.
The bank added it is confident that the updated strategy coupled with its tried and tested business model, intimate knowledge of the Maltese market and its business culture, industry positioning, as well as wider community presence, will allow it to raise its profile within the Maltese economy. Lombard’s equity remained inactive on Tuesday.
With the same segment, Bank of Valletta plc added 1.7% to the 87c5 level across 7,721 shares.
The other positive performing equity today was MIDI plc as it surged by 17.2% to regain the 34c level albeit on just 1,000 shares.
A single deal of 1,093 shares left the share price of International Hotel Investments plc at the 70c5 level.
Similarly, PG plc stayed at the €2.20 level across 4,500 shares.
The RF MGS Index fell by 0.47% to a fresh all-time low of 901.336 points as sovereign bond yields continued to climb ahead of Wednesday’s conclusion of the US Federal Reserve monetary policy meeting.
Within the euro area, the benchmark German 10-year Bund yield climbed above the 1.93% level for the first time since December 2013 as producer prices in Germany surged by over 45% in August when compared to the same period in 2021.
This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.
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