MSE Equity Price Index slides to near 8-month low

The MSE Equity Price Index on Wednesday shed a further 0.52% to 4,678.555 points – the lowest level since the first half of April 2019 – as MIDI and HSBC trended lower whilst another five companies closed unchanged.

Trading activity continued to be subdued as only €0.08 million worth of shares changed hands. The local equity index is now 4.76% lower than its 2019 high of 4,912.452 points recorded on 30 September.

Following Tuesday's decline of 14.1%, the equity of MIDI plc dropped by a further 5.5% to the €0.52 level across 40,350 shares.

On Monday, MIDI announced that discussions with Tumas Group in connection with the possibility of establishing a joint venture with respect to the development of Manoel Island ceased by mutual agreement. Nonetheless, MIDI noted that it remains fully committed to the Manoel Island project and that development works will commence once the required planning permits are issued.

Two deals totalling 1,740 shares forced the equity of HSBC Bank Malta plc to move back to its multi-year low of €1.20 (-4%).

Within the same sector, Bank of Valletta plc stayed at the €1.06 level across 28,400 shares.

Also among the large companies, GO plc and International...