Current Affairs
Decline in Malta Stock Exchange index was far less than European markets

Various local companies who have shares and bonds quoted at the Stock Exchange have recently informed the market with their position, even to rest investors’ minds on their investment. The Malta Stock Exchange, similar to world financial markets, felt the effects of the economic crisis caused by the Covid-19 pandemic, although the decline in the stock index was far less than that registered by financial markets in Europe.

Financial adviser Jesmond Mizzi said that, while major world indexes lost between 10 to 30 per cent, the Malta stock exchange index declined by around 18 per cent. “The local index was better than many European major indexes which even recorded a decline of almost 30 per cent, some 10 per cent better in the local market fall”.

Mr Mizzi added that last month Malta saw a decline in value, both in government stocks and also of local companies who have bonds on the Malta Stock Exchange. “However, much of the loss in government stocks was regained, in fact this is minimal”.

Market sentiment also prevailed this week when the Government issued a €300-million in stocks for institutional investors and within a few hours, the Treasury received applications reaching almost €400 million. The Finance Ministry said that the Government will provide further opportunities to financial institutions and the public to participate in more government stocks issues in the coming months.

“Although we do not currently know how the situation will resolve itself, with the existing great determination, economies will again move forward once the situation is back to normal”.

Mr Mizzi maintains that the big companies will pass through a difficult period during this economic crisis, however they will again recover. He added that the government’s financial assistance package, together with banks’ measures, will assist enterprises to move forward.

Other News

Prime Minister Robert Abela has described the Malta Dockers’ Union, which represents port workers, as the role model for trade unionism within the country. While meeting union representatives at the…

The Nationalist Party has presented eight proposals as part of a social pact on the impact of Covid-19 on families. The Party’s Deputy Leader for Parliamentary Affairs, David Agius, proposed…

Infrastructure Malta has received six offers for a project to provide the provision of Grand Harbour wharfs with electricity supplies to enable cruise-liners and others vessels to switch off their…

View More