Equity Price Index slumps to 5-year low

The Malta Stock Exchange Equity Price Index slid 1.2% on Thursday to 3,663.583 points - the lowest level recorded since March 2015, on the back of a sharp drop in GO as well as declines in RS2, PG and Mapfre Middlesea.

On the other hand, Lombard Bank Malta plc edged higher whilst a further five equities ended the day unchanged.

Trading activity somewhat improved as €0.08 million worth of equities changed hands. GO plc slumped 4.2% back to the €3.22 level for the first since December 2016 albeit on a single trade of just 963 shares.

Similarly, RS2 Software plc drifted 0.9% lower to €2.28 on a single deal of 500 shares. This morning, RS2 published its 2020 interim results revealing a pre-tax loss of just over €3 million largely reflecting the group’s continued investment in its product and services as well as in connection with its expansion plans particularly in the US supported by a robust business pipeline.

RS2 expressed its confidence about achieving operational targets which also include the onboarding of a leading New York Stock Exchange listed bank ranking among the global top ten banks by total assets and Tier-1 capital. This new managed service agreement has started...