The MSE Equity Price Index lost another 0.73% today to a two-week low of 3,692.168 points.
MIA, Farsons, PG and the preference shares of RS2 all closed in negative territory while AX Real Estate plc was the only positive performing equity as it advanced by 0.9% to the €0.55 level on trivial volumes.
Meanwhile, IHI and Tigné closed unchanged as overall equity market activity amounted to €0.18 million.
For the second consecutive session, the shares of Simonds Farsons Cisk plc were the most actively traded with just under €0.1 million worth of shares changing hands as the share price fell by 8.5% to the €7.00 level (equivalent to €8.40 pre-bonus share issue) on 10 trades totalling 13,646 shares.
Also among the large companies by market value, Malta International Airport plc eased by 0.8% to the €5.95 level across three trades totalling 7,312 shares. MIA should shortly be publishing its May traffic statistics.
A single deal of 10,000 shares pulled the share price of PG plc 0.9% lower to the €2.22 level.
Elsewhere, the preference shares of RS2 Software plc plunged by 8.3% to an all-time low of €1.54 on a single trade of 2,000 shares.
International Hotel Investments plc (7,964 shares) and Tigné Mall plc (9,500 shares) traded flat at the €0.73 and €0.70 levels respectively.
IHI is holding its Annual General Meeting tomorrow.
The RF MGS Index posted an 8-day losing streak as it dropped by a further 0.27% to a fresh all-time low of 962.323 points.
Yesterday, the World Bank downgraded its global growth forecast to 2.9% for this year, from an earlier estimate of 4.1% in January.
The World Bank warned that various countries may fall into recession as the economy slows while inflation remains persistent.
A similar economic downgrade was echoed by the OECD today which set its global growth forecast for 2022 at 3%, well below the 4.5% estimate as of December 2021.
Meanwhile, the eurozone GDP for the first quarter of this year expanded by 0.6%, ahead of expectations of 0.3%.
The European Commission expects euro area growth at 2.7% in 2022.
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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.
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Past performance is not necessarily indicative of future results.
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