MSE Share Index higher for third consecutive day

The MSE Share Index moved higher for the third consecutive day with a further 0.6% increase to a 1-week high of 3,342.651 points as various equities trended in positive territory during this morning’s session.

Most notably, HSBC Bank Malta plc edged 1.8% higher to regain the €1.965 level across five deals totalling 37,111 shares. Similarly, new bids helped the share price of Middlesea Insurance plc advance by 14.9% to recapture the €1.00 level for the first time since mid-March. Earlier on today, Middlesea issued its Interim Directors’ Statement providing an update on its performance during the third quarter of 2014.During the period under review, the Middlesea Group maintained the positive sales trends and strong performance registered at the interim stage when total income from the Group’s insurance activities grew by 22.4% to just over €6 million and pre-tax profit climbed 20.2% higher to €8.2 million.

Also in the financial sector, Lombard Bank Malta plc shares recovered from an intra-day low of €1.68 to end this morning’s session marginally higher at the €1.70 level on volumes of almost 40,000 shares.

Malta International Airport plc also performed positively with a 1.3% jump to regain the €2.35 level across nine trades totalling 30,344 shares.

The only other positive performing equity was Simonds Farsons Cisk plc with a 2.5% rise to the €2.972 level on a single trade of 850 shares.

On the other hand, the share price of Bank of Valletta plc eased minimally lower to €2.249 on volumes of 47,360 shares.

The equity of FIMBank plc dropped to a fresh all-time low of USD0.60, representing a 7.7% drop from the previous closing price, on low volumes of 2,401 shares.

On the bond market, the Rizzo Farrugia MGS Index eased 0.2% lower to 1,092.398 points as the benchmark Eurozone yields rebounded from their all-time lows to the 0.85% level as markets calmed down following the significant correction in the past few days.