MIA raises its 2011 passenger forecast

This afternoon Malta International Airport plc announced that it is revising upwards its 2011 passenger growth forecast from 3.2% to at least 4.5% following the arrival of the 3 millionth passenger for 2011. This is the second time this year that the airport operator revised its passenger growth forecast upwards as it initially had estimated to maintain the same level of passenger numbers reported in 2010. MIA’s share price held on to its recent strong gains as the equity traded again at its 3-month high of €1.70.

Elsewhere in the market, Bank of Valletta plc edged 0.2% lower to €2.455 ahead of the Bank’s full-year results publication on Friday 28 October. Twenty deals amounting to almost 29,000 shares were executed this morning. Meanwhile HSBC Bank Malta plc held on to the €2.66 level across seven trades totalling 5,520 shares.

The only other active equity was International Hotel Investments plc which slipped 3.1% back to the €0.79 level on a single deal of a mere 1,861 shares.

On the bond market, the Rizzo Farrugia MGS Index eased 0.1% to 985.070 points in line with the marginal recovery in Eurozone yields.