The MSE Equity Price Index on Wednesday added to Tuesday's uplift as it gained a further 0.26% to 3,772.968 points.

FIMBank, RS2 and PG trended in positive territory whilst BOV, GO, BMIT and Malita closed the day unchanged. Trading activity in equities remained muted as only €0.04 million worth of shares changed hands.

FIMBank plc surged by 3.8% to recapture the USD0.27 level across 56,739 shares.

The ordinary shares of RS2 Software plc moved 1.2% higher to the €1.69 level on a total of 3,293 shares.

The other positive performing equity today was PG plc with a gain of 0.9% to regain the €2.32 level albeit on just 1,000 shares.

Low trading activity also took place in the equity of GO plc which remained at the €3.22 level.

GO’s data centre and IT managed services subsidiary – BMIT Technologies plc – stayed at the €0.496 level across 10,000 shares.

Bank of Valletta plc maintained the €0.84 level after opening at a high of €0.85 (+1.2%). A total of 8,480 shares traded.

A single deal of 5,000 shares left the share price of Malita Investments plc at the €0.80 level.

On Wednesday, HSBC Bank Malta announced that its board of directors is scheduled to meet on Tuesday 22 February to consider and approve the financial statements for the year ended 31 December 2021. The directors will also consider the recommendation, or otherwise, of a final dividend to be recommended to the bank's AGM which will be held remotely on Wednesday 13 April.

The RF MGS Index trended lower for the second consecutive day as it fell by a further 0.16% to 1,067.910 points. Sovereign bond yields continued to drift higher ahead of the conclusion of the monetary policy meeting of the Federal Reserve.

During the customary press conference following the meeting, Federal Reserve Chair Jerome Powell is expected to provide further clues about the extent of the central bank’s monetary policy tightening to be adopted in the coming months.

Meanwhile, on Tuesday, the IMF published its revised global economic forecasts. The IMF is now expecting global GDP to grow by 4.4% this year (compared to the earlier forecasts of an increase in output of 4.9%), followed by further growth of 3.8% in 2023 which is marginally higher than the previous projection of 3.6%. 

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