Issue link: https://maltatoday.uberflip.com/i/1512069
23.11.2023 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: 22 November 2023 ECB warns household incomes could feel fresh squeeze if disappointing economy persists SLUGGISH growth in the eu- ro-zone economy is threatening to amplify risks to financial stability posed by higher interest rates, the European Central Bank warned. As the impact of the ECB's his- toric monetary-tightening cam- paign continues to unfold, house- hold incomes, corporate revenues and public finances could feel an additional squeeze if the economy continues to disappoint, the cen- tral bank cautioned in its biannual Financial Stability Review. "e weak economic outlook along with the consequences of high inflation are straining the ability of people, firms and govern- ments to service their debt," ECB vice president Luis de Guindos said in Frankfurt. "It is critical that we remain vigilant as the economy transitions to an environment of higher interest rates coupled with growing uncertainties and geopo- litical tensions." e outlook for the 20-nation euro area has worsened of late and a recession is possible after output shrank 0.1 per cent in the third quarter. Activity is only expect- ed to pick up slightly next year, while downside risks such as the uncertain impact of rate hikes and geopolitics were seen dominating when policymakers met in Octo- ber. Still, financial markets currently expect a "soft landing," where in- flation moderates without a sig- nificant hit to growth, according to the report. Historical evidence suggests such a scenario is "dif- ficult – although not impossible – to achieve in practice, especial- ly given the magnitude of rate in- creases in a short period of time," it said, adding that negative sur- prises to growth risk a "disorderly correction." e ECB has raised rates 10 times since mid-2022, but left them on hold last month. While the effect of that campaign is increasingly being felt in sectors such as real estate, much of the tightening has yet to filter through as borrowing costs for households, companies and governments only gradually shift higher. Corporate insolvencies, though, are starting to pick up and could rise further as the economic down- turn becomes more broad-based and credit costs rise, the ECB said. "ere could be more defaults going forward, with potential knock-on effects on bank balance sheets, nonbank investors in cor- porate debt and household em- ployment prospects," it said. Officials also warned that the en- vironment is getting rougher for banks, which have so far benefit- ed from rising rates. Lenders now face higher risk provisions as more borrowers struggle to repay loans. Banks' funding costs are also set to rise as competition for depos- its heats up, more customers shift their cash into higher-yielding term deposits and maturing liabil- ities need to be refinanced. To limit risks, the ECB urged au- thorities to preserve the so-called macroprudential capital buffers that can be drawn on if condi- tions in the sector worsen. Cur- rent bank-profitability levels could even allow an increase in some countries, it said. Turning to budgetary matters, the ECB warned that "risks of fis- cal slippage" could re-emerge, de- spite Italy's credit rating – the top focus of investor concern – being pulled back from the brink of junk by Moody's Investors Service. ECB vice president Luis de Guindos