Trading activity across the local equity market remained low with only 4 active shares today. However, the MSE Share Index climbed by 1.14% to 3,040.515 points following strong gains in the share prices of the two largest caps amid weak volumes.
Bank of Valletta plc recovered most of last Friday’s drop as the equity gained 2.9% to €2.14 amid weak volumes of a mere 2,370 shares.
The share price of HSBC Bank Malta plc similarly recovered part of the recent losses as it traded 1.9% higher to €2.649 also on very low volumes of only 1,989 shares.
Lombard Bank Malta plc’s equity was active for the first time in more than 3 weeks. The share price dropped back to its multi-year low of €2.15 on volumes of a mere 950 shares. Lombard will be issuing its interim results on Thursday 23 August.
The only other active equity was Plaza Centres plc as a further 9,900 shares traded at €0.55. Plaza recent reported its 2012 half-year results showing a record profit of €0.423 million as occupancy in the retail and commercial centre remained above the 90% level in spite of a 1,700 square metre increase in rentable area.
The Rizzo Farrugia MGS Index dropped by 0.18% from yesterday’s 11-month high of 997.343 points as eurozone yields increased reflecting the better-than-expected economic data from Germany and also France. The indicative bid prices of the large majority of the Malta Government Stocks declined today with the longer-dated ones showing the greatest drops. The bid price of the 5.10% MGS 2029 dropped by 33 basis points to 103.15% while the bid price of the 5.2% MGS 2031 suffered a 34 basis point decline to 102.50%.