MSE Share Index at 3-week high

The MSE Share Index climbed 1% during the final trading session of the week to 3,130.402 points – close to a 3-week high. Today’s upturn reflects the 5% increase in the share price of International Hotel Investments plc and a 0.6% rise in the share price of Bank of Valletta plc to €2.40. A total of 10,475 BOV shares traded today. BOV’s equity closed the week marginally higher.

Meanwhile, the equity of International Hotel Investments plc closed as the best performer this week after a gain of a further 5% today on a single trade of 10,000 shares at €0.84. IHI’s equity more than recovered last week’s 6.1% drop with an 11.9% jump this week.

Similarly, fresh bids also lifted MaltaPost plc’s share price 4% higher to €0.78 on volumes of 4,354 shares. The postal operator is shortly expected to publish its September 2012 full-year results.

HSBC Bank Malta plc registered a marginal gain in its share price today to €2.652 across two deals totalling 5,586 shares. However, the Bank’s equity still ended the week 1.8% lower.

Meanwhile, Grand Harbour Marina plc held on to the €1.81 level on a single trade of 5,000 shares. GHM’s shares jumped 5.9% this week after the Company revealed that it signed a Memorandum of Understanding for the sale of a super-yacht berth worth €3.1 million together with an option for the potential acquirer to purchase a further berth worth €1.8 million. Moreover, the Company reported that both its marinas in Malta and Turkey continued to report higher revenues.

On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 999.383 points as benchmark Eurozone yields retreated back to the 1.41% level on increasing concerns over Greece. The creditors of Greece have not yet reached a deal to give the country access to the much needed next tranche of aid totalling €31.5 billion. Moreover, there are increasing concerns on the disagreement over the EU’s budget for the period 2014 – 2020.