HSBC share price rises 0.8% to €2.65

This morning the local equity market moved back into positive territory as the MSE Share Index climbed 0.2% to 3,114.590 points following a 0.8% increase in the share price of HSBC Bank Malta plc to the €2.65 level. Almost 14,000 shares changed hands across nine trades.

HSBC’s equity was the only mover during this morning’s trading session with Bank of Valletta plc closing unchanged at the €2.50 level on volumes of over 26,000 shares. The only other active equity, International Hotel Investments plc, also closed unchanged at the €0.80 level across trades totalling 4,800 shares.

This afternoon Malta International Airport plc announced the September 2011 traffic results. During the month under review, the airport operator registered a 2.4% increase in passenger movements to 382,389 (a record for the month of September) when compared to the same month last year. MIA explained that this increase was mainly due to an 8.2% percentage point increase in the average seat load factor to 83.2% which offset the 7.8% decline in seat capacity to 459,425 seats. Overall, during the first nine months of 2011, MIA’s passenger movements have increased by 7.9% when compared to the same period last year – totalling 2,781,802 passenger movements. Equity inactive today with offers already placed below the last closing price of €1.57.

On the bond market, Malta Government Stock prices continued to climb higher in line with the further drop in Eurozone yields closer to the 1.70% level as fears over a Greek default and the potential contagion effects push investors to ‘safe haven’ assets. Overall, the Rizzo Farrugia MGS Index climbed by another 0.3% to a week high of 995.216 points.