The MSE Equity Price Index moved lower for the first time in seven trading sessions as it eased by 0.02% to 4,433.382 points. Activity was mainly concentrated around BOV and MIA, with volumes exchanged in these two equities representing 60% of the total value of equities traded.
Bank of Valletta plc dropped 0.8% to the €1.27 level (the lowest since mid-October 2009) across 91,250 shares.
MaltaPost plc also lost 0.8% to the €1.27 level on weak volumes of 1,084 shares.
Low trading activity was recorded in Mapfre Middlesea plc and RS2 Software plc. The insurance specialist shed 1.5% to the €1.92 level while RS2 moved back to the €1.47 level (-0.7%) after opening at a low of €1.40 (-5.4%).
Positive sentiment towards Malta International Airport plc persisted. The equity climbed 0.8% to a two-month high of €6.30 on continued high volumes totalling 30,789 shares.
Also among the large companies, GO plc surged 1% to the €4.24 level (the highest since mid-September 2006) across 21,000 shares. On Thursday, GO announced that its board of directors was scheduled to meet on Friday March 8 to consider and approve the financial statements for the year ended December 31, 2018. The directors will also consider recommending a final dividend to shareholders at the company’s annual general meeting. Separately, GO also noted that the public offer relating to the IPO of BMIT Technologies plc was now closed.
In the property segment, Malta Properties Company plc added 1% to the €0.525 level across 32,950 shares.
Malita Investments plc rose 2.2% to a near three-year high of €0.92, albeit on just 10,000 shares.
Meanwhile, three equities traded unchanged on Thursday. HSBC Bank Malta plc (10,887 shares) and International Hotel Investments plc (4,885 shares) maintained their €1.73 and €0.60 levels respectively.
A single deal of 8,750 shares left the equity of Simonds Farsons Cisk plc at the €8 level.
The RF MGS Index advanced by 0.07% to 1,104.946 points as bond yields in the eurozone fell sharply after the US Federal Reserve on Wednesday left interest rates unchanged amid “growing evidence of cross-currents” and a “less-favourable outlook”. The Fed said that growing uncertainties across international financial markets “warrant a patient, wait-and-see approach regarding future policy changes”. In addition, the central bank acknowledged that “the case for raising rates has weakened somewhat” and that “we believe we can best support the economy by being patient in evaluating the outlook before making any future adjustment to policy”.
Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results.