The MSE Equity Price Index posted a five-day negative streak as it eased by 0.05% to 3529.162 points reflecting the decline of MIDI. Meanwhile, three other equities closed the day unchanged as overall trading amounted to €0.03 million.

MIDI plc fell 4% to a 7-year low of €0.24 on a single trade of 67,250 shares.

Within the banking sector, Bank of Valletta plc (11,962 shares) and APS Bank plc (5,100 shares) traded flat at the €0.85 and €0.60 levels respectively.

Simonds Farsons Cisk plc remained at the €7.35 level on muted volumes.

The RF MGS Index fell by 0.36% to a three-week low of 897.273 points as sovereign bond yields remained volatile in anticipation for the two-day Federal Reserve monetary policy meeting starting tomorrow. The Fed is expected to announce another increase to its key rates on Wednesday.

Meanwhile in the UK, GDP growth in October exceeded expectations, boosted by the improvement in the services sector which had contracted in the previous month.

On Monday, the Central Bank of Malta published its Interim Financial Stability Report 2022, which detailed how the Maltese financial system remained resilient to the adverse global macroeconomic developments as during the first half of the year the local economy continued to grow at a fast pace amid a strong recovery from the pandemic.

The report stated that loan portfolios of Maltese banks have not yet shown any signs of credit quality deterioration, with an overall non-performing loans ratio of 2.9%. Maltese banks remained adequately capitalised and reported improvements in underlying profitability.

Meanwhile, the report also included recommendations for the financial sector to remain vigilant to the various operational and external risks.

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