Rizzo Farrugia MGS Index drops to a 14-month low
The indicative opening Malta Government Stock prices quoted by the Central Bank of Malta extended their recent sharp downward trend today.
The Rizzo Farrugia MGS Index moved lower for the sixth consecutive day and slipped by a further 0.35% to a fourteen-month low of 1,132.909 points. The 10-year benchmark German Bund yield briefly touched a three-week high of 0.326% this morning before easing to 0.291%.
On the economic front, the result of a new survey showed that economic sentiment across the euro zone area rose to its highest level since mid-2015.
Furthermore, the unemployment rate within the single currency area remained at 9.8% – the lowest since November 2009. Meanwhile, the international credit rating agency Standard & Poor's said today that it is not expecting the European Central Bank (ECB) to abandon its supportive monetary policy before 2018, even though inflation seems to have picked up lately mainly due to rising energy prices.
The MSE Share Index kicked-off the week with a marginal decline of 0.03% to 4,643.158 points as the drops in the share prices of RS2, HSBC and Tigne’ Mall outweighed the gains registered in BOV and Farsons. Meanwhile, GO and MIDI both closed...