The MSE Equity Price Index slipped by 0.5% to 3,448.251 points reflecting the declines in the share prices of MIA and RS2 whilst HSBC, IHI and PG closed the day unchanged. Trading activity was muted as only €0.02 million worth of shares changed hands.
Malta International Airport plc dropped 2.5% back to the €4.60 level on volumes of 2,600 shares. The airport operator is due to hold its AGM on 11 November and this will be streamed online.
The other negative performing equity today was RS2 Software plc as it retracted almost 2% to the €2.02 level across 1,700 shares. RS2 will be convening an Extraordinary General Meeting on 15 December.
Also among the large companies, HSBC Bank Malta plc traded flat at its multi-year low of €0.70 across 2,470 shares. Last week, HSBC announced further changes to its retail branch network in line with its strategy that places further emphasis on digital services. The bank also noted that its new flagship branch located in Qormi is now expected to be inaugurated in early 2021.
International Hotel Investments plc held on to the €0.50 level across 13,084 shares.
A single deal of just 225 shares left the equity of PG plc at the €1.90 level.
The RF MGS Index surged 0.18% to an over two-week high of 1,119.843 points as sovereign bond yields in the euro area trended sharply lower amid uncertainties over the possible outcome of the US Presidential election. Indeed, the race between incumbent Donald Trump and contender Joe Biden is resulting to be extremely tight as the dynamics in a small number of states – namely Arizona, Georgia, Michigan, Nevada, Pennsylvania and Wisconsin – will be crucial. Moreover, most political commentators are now expecting that it could take a number of days, or even weeks if the outcome is legally contested, before a concluding result takes shape.