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21.9.2023 6 MARKETS Symbol Volume Value Trades High Low Open Closing Change Code Traded Traded Trades Price Price Price Price EQUITIES APS 7,526 4,515.60 1 0.600 0.600 0.600 0.600 0.000 BMIT 135,625 58,318.75 5 0.430 0.430 0.430 0.430 0.000 BOV 73,352 81,346.38 7 1.130 1.090 1.110 1.130 0.040 GO 9,400 27,778.00 4 2.960 2.940 2.960 2.940 0.000 HLI 1,800 410.40 1 0.228 0.228 0.228 0.228 0.000 HSB 109,863 119,750.67 4 1.090 1.090 1.090 1.090 0.000 MIA 19,973 108,882.85 4 5.500 5.450 5.500 5.450 0.000 PG 83,900 161,386.52 7 1.940 1.920 1.920 1.940 0.020 CORPORATE STOCKS G32G 10,000 10,365.00 1 103.650 103.650 103.650 103.650 -0.580 G34A 58,400 60,718.48 1 103.970 103.970 103.970 103.970 -1.030 G40A 216,000 192,302.18 7 99.000 88.280 98.000 88.280 -2.220 G43AA 25,000 24,835.00 1 99.340 99.340 99.340 99.340 -0.910 CORPORATE BONDS AX24A 25,000 25,250.00 1 101.000 101.000 101.000 101.000 0.990 AX29A 4,300 4,203.25 1 97.750 97.750 97.750 97.750 -0.200 BB33A 8,500 8,712.50 1 102.500 102.500 102.500 102.500 0.500 BV30B 27,200 24,147.46 8 89.200 88.500 88.510 89.200 1.190 CE33A 10,100 10,100.00 1 100.000 100.000 100.000 100.000 0.000 DF26A 20,000 20,000.00 1 100.000 100.000 100.000 100.000 0.010 HF28A 5,000 4,675.50 1 93.510 93.510 93.510 93.510 0.010 IB32A 10,000 10,000.00 1 100.000 100.000 100.000 100.000 0.000 IH26A 13,500 13,600.65 3 100.750 100.740 100.740 100.750 0.000 IH31A 4,000 3,720.00 1 93.000 93.000 93.000 93.000 0.000 JD32A 9,100 9,044.35 2 99.850 99.010 99.850 99.010 -0.840 MI23A 9,000 8,998.35 2 100.000 99.970 99.970 100.000 0.800 MP32A 5,000 4,970.00 1 99.400 99.400 99.400 99.400 -0.100 ON34A 16,000 15,360.00 2 96.000 96.000 96.000 96.000 -2.000 SF27A 10,000 10,000.00 1 100.000 100.000 100.000 100.000 0.700 SP29A 3,000 2,970.00 1 99.000 99.000 99.000 99.000 0.000 ST27A 33,000 33,000.00 4 100.000 100.000 100.000 100.000 0.000 VR27A 300 289.50 1 96.500 96.500 96.500 96.500 -2.400 Malta Stock Exchange Regulated Main Market Trading Date: 20 September 2023 UK inflation slumps to 6.7% in August UK inflation dropped to 6.7% in August, according to the latest figures from the Office for Na- tional Statistics (ONS). e bet- ter-than-expected numbers (ana- lysts had expected inflation to rise to 7% from 6.8% in July) are likely to put less pressure on the Bank of England (BoE) to hike interest rates further from current levels. According to the ONS, Au- gust's figure was driven by "falls in the often-erratic cost of over- night accommodation and air fares, as well as food prices ris- ing by less than the same time last year." These declining fig- ures offset rising petrol prices, which put upward pressure on the headline inflation figures. More importantly, core infla- tion, which strips volatile food and energy costs, and is a bet- ter indicator of the long-term growth of prices, fell to 6.2% in August. Economists were pre- dicting a figure of 6.8% for Au- gust compared to the July print of 6.9%. e latest update on inflation will come as a relief to policymak- ers and consumers in the UK. As Daniel Casali, chief invest- ment strategist at wealth man- agement firm Evelyn Partners notes, "Back in October last year, annual headline CPI inflation had reached 11.1%, but it has since fallen by 4.4%. Much of that de- celeration has come from lower energy prices in the transport (i.e. fuel) and housing and household services (i.e gas and electricity) categories." "Despite pockets of inflationary pressures (i.e rents), the broad deceleration trend in inflation is intact and this increases the like- lihood that the BoE is close to the end of its interest rate-hiking cy- cle," Casali adds. e BoE has hiked interest rates aggressively over the past year as it has tried to bring inflation back to its 2% target. e central bank's base rate currently stands at 5.25% and it is widely expected the bank's Monetary Policy Com- mittee (MPC), which sets rates, will unveil another 0.25% hike to- morrow. But moderating inflation sug- gests the BoE might be close to the end of its hiking cycle. As Victoria Scholar, head of investment at in- teractive investor notes, "markets are now pricing in a 45% chance of no change to interest rates on ursday, a steep increase from 20% on Tuesday. However, it looks like interest rates will remain high for some time, with little chance of a rate cut before the second half of next year." Nevertheless, the economy is not out of the woods just yet, "Wages are rising rapidly, sterling still remains weak and oil prices are going up," notes Charlie Hug- gins at Wealth Club. Although for now, " the trend is in the right direction. While price rises are still much higher than anyone would like, there is no longer a sense that inflation is out of control."

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