MIA reaches new all-time high

The equity of Malta International Airport plc had a volatile session as it opened 0.9% higher at the €2.35 level before slipping to an intra-day low of €2.33. However, in the last moments of today’s trading session, new bids emerged to lift the airport operator’s equity to a new all-time high of €2.40 representing a 3% jump from yesterday’s closing price. A total of 25,750 shares changed hands across five deals. Given the record passenger numbers during the first ten months of the year, MIA is well positioned to exceed its 2014 passenger growth target of 4.2%.

Bank of Valletta plc also closed in positive territory as the bank’s equity inched minimally higher to €2.29 across nineteen trades totalling 23,654 shares. Tomorrow is the last day for investors to gain entitlement to the final gross dividend of €0.0925 per share.

Similarly, the equity of Tigné Mall plc advanced by 3.8% to regain its all-time high of €0.55 on increased volumes of 31,000 shares.

On the other hand, HSBC Bank Malta plc eased minimally lower to end this morning’s session at the €1.974 level after it only partially recovered from an intra-day low of €1.95 on shallow volumes of 3,500 shares.

Likewise, the share price of Medserv plc retreated by 0.4% back to the €1.325 level on a single trade of 2,000 shares.

Meanwhile, International Hotel Investments plc held on to the €0.56 level on a deal of 2,000 shares. Similarly, Middlesea Insurance plc traded unchanged at the €0.99 level across 3,000 shares.

Overall, the MSE Share Index edged 0.2% higher to 3,341.061 points.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,092.051 points as Eurozone benchmark yields slipped below the 0.8% level as Germany criticised the asset purchase programme of the European Central Bank.

On the local corporate bond market, trading in the newly listed €30 million 5.0% Hal Mann Vella Group plc bonds maturing in 2024 commenced today with the price touching a high of 103.80% before easing back to a closing price of 103.5% which still represents a 350 basis point premium over the issue price.