The MSE Equity Price Index extended its downward trend on Wednesday as it shed a further 0.9% to a fresh multi-year low of 3,504.846 points.

Four companies, including IHI and BOV, trended in negative territory whilst another five closed the day unchanged. Trading activity improved to €0.15 million with the majority of today’s volumes taking place in BOV, Lombard, MIA and RS2.

Bank of Valletta plc lost 1.1% back to the €0.86 level across 60,417 shares. Within the same sector, Lombard Bank Malta plc plunged 5.3% to the lowest level in more than five years of €1.80 on four deals totalling 21,400 shares.

A single deal of just 5,000 shares forced the equity of International Hotel Investments plc to move 5.8% lower to the €0.49 level.

The other negative performing equity today was BMIT Technologies plc with a drop of 2.1% to the €0.46 level across 9,200 shares. Also in the technology sector, RS2 Software plc retained the €2.20 level on four deals totalling 10,000 shares.

Malta International Airport plc remained at its six-month low of €4.60 after failing to hold on to an intra-day high of €4.72. A total of 5,500 shares traded. Simonds Farsons Cisk plc maintained the €7.20 level across 851 shares. FIMBank plc and Mapfre Middlesea plc also traded flat at USD0.30 and €2.00 respectively albeit on trivial volumes.

The RF MGS Index erased Tuesday's sharp decline as it rebounded strongly by 0.21% to 1,114.722 points.

Sovereign bond yields in the euro area dropped markedly after US President Donald Trump said that he was sending instructions for the negotiations with opponent lawmakers over a fiscal stimulus package to end at least until after the elections scheduled for 3 November. The President blamed Democratic Speaker of the House Nancy Pelosi for the failure to strike a deal and instead urged the Republican-controlled Senate to focus on confirming his Supreme Court nominee Judge Amy Coney Barrett.

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