MIA regains 2010 high of €1.65

The share price of Malta International Airport plc jumped 3% during this morning’s trading session to regain its 2010 high of €1.65. Eight trades amounting to almost 8,300 shares were transacted today with further offers unsatisfied at the closing price. MIA’s equity has recovered by 10% from its recent low of €1.50. During the first nine months of this year the airport operator registered a 12.4% increase in passenger movements compared to the 8% forecasted growth for the year.

Bank of Valletta plc shares also closed in positive territory for the fifth consecutive session ahead of the Bank’s full-year results publication next Friday 29 October. Following the 1.9% gained during the previous four sessions, BOV’s share priced edged a further 0.3% higher today to €3.28 on volumes of over 9,900 shares.

The gains registered by BOV and MIA helped the MSE Share Index advance by 0.22% to 3,360.586 points. All other active equities closed unchanged. Over 15,800 HSBC Bank Malta plc shares traded at the €2.795 level while International Hotel Investments plc maintained the €0.80 level across 14,500 shares. MaltaPost plc continued to trade at its 2010 high of €0.92 on volumes of 4,312 shares with 2,000 Middlesea Insurance plc shares executed at the €1.00 level.

On the bond market, Malta Government Stock prices declined further as the benchmark 10-year Eurozone yield surpassed the 2.50% level for the first time in over a month. This morning the Treasury published a Prospectus in terms of the upcoming Malta Government Stock issues. The 2 new fungible issues are: (i) 3.75% MGS 2015 (VI) and (ii) 5.25% MGS 2030 (I). Prices will be determined on Thursday 4 November 2010 and the subscription period will take place between 8 and 10 November.

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