The MSE Equity Price Index added a further 0.3% closing at a 9-month high of 4,166.078 points on Wednesday. The rise was attributable to the gains in MPC, Medserv, RS2, Lombard and Harvest whilst the remaining five active equities closed unchanged. Similarly, trading activity also surged to a 9-month high of €0.95 million, largely on account of the heightened activity registered in MPC and Medserv.
Malta Properties Company plc jumped by 4% to recapture the €0.52 level with just over 1.1 million shares changing hands.
Wednesday's best performing equity, Medserv plc, surged by 6.3% to a near 4½ month high of €0.68 across 356,408 shares.
Meanwhile, RS2 Software plc inched nearly 1% higher as the equity regained the €2.06 level across 2,644 shares. Yesterday, RS2 held an Extraordinary General Meeting (“EGM”) whereby a number of resolutions mainly relating to the capital raising plans via an issuance of preference shares were approved by shareholders. The company is scheduled to hold another remote EGM on 29 December 2020.
In the same sector, Harvest Technology plc added 0.7% to the €1.47 level as 7,200 shares changed hands whilst BMIT Technologies plc held onto the €0.48 level on continued heightened activity totalling 130,600 shares.
In the banking sector, Lombard Bank Malta plc rose by 4.8% as it recaptured the €2.20 level across 12,966 shares, while HSBC Bank Malta plc closed flat at the €0.95 level across 11,000 shares.
Similarly, Bank of Valletta plc ended the day unchanged at the €1.02 level as 47,659 shares changed hands.
Also among the large companies by market value, Malta International Airport plc remained at the €6.20 level across 400 shares.
Elsewhere, PG plc retained the €2.00 level across 6,250 shares.
The RF MGS Index climbed to a fresh nine-month high as it inched 0.08% higher to 1,134.791 points. European Commission President Ursula von der Leyen said today that fishing rights are now the last major hurdle to a post-Brexit trade deal as negotiations continued in Brussels.
Meanwhile, although two of UK Prime Minister’s officials acknowledged the progress had been made in recent negotiations, the officials noted that a ‘No Deal’ Brexit remains the most likely outcome.
Elsewhere, from a data perspective, a preliminary estimate showed that the IHS Markit Eurozone Composite PMI rose to 49.8 in December from 45.3 in the previous month, and easily beating market expectations of 45.8. The latest reading suggested that the bloc's private sector economy came close to stabilizing, as manufacturing output growth accelerated and service sector activity contracted at a slower pace.