Following yesterday's decision by the European Central Bank to cut interest rates by a further 25 basis points back to the historic low of 1%, the indicative Malta Government Stock bid prices quoted by the Central Bank of Malta were revised sharply higher today.
The Rizzo Farrugia MGS Index increased by 0.3% to 984.217 points reflecting the higher prices across the entire maturity profile.
The indicative price quoted by the Central Bank in the 5.20% MGS 2031 (I) rose by 47 basis points today to a record of 102.41%. On the secondary market, the price closed the first week of trading 175 basis points higher at 102.50%.
The equity market continued to be characterised by low trading activity. Three of the five active equities today closed higher while GO plc maintained its all-time low of 95c and MaltaPost plc shed 2.6% on a single trade of a mere 204 shares despite still trading with the entitlement to the net dividend of 4c per share.
Despite the marginal gain in the MSE Share Index today, the local benchmark still closed this shortened week 0.7% lower at 3,092.984 points following the declines in Malta International Airport plc (-6.9% to...
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