The share price of Malta International Airport plc edged a further 0.6% higher during this morning’s trading session to a close of €1.74 on volumes of over 12,000 shares. During the first week of May, MIA’s equity had dropped to a low of €1.649, but over the past four weeks renewed demand for the shares of the airport operator helped the price recover by 5.5%. In the coming days MIA is expected to publish the May traffic results. Meanwhile, last week, the company announced that its Board of Directors is scheduled to meet on 27 July to consider and approve the financial statements for the six months ending 30 June 2011 and also consider the payment of an interim dividend.
Apart from MIA, the only other equity to close higher was Middlesea Insurance plc. Middlesea’s share price advanced by 1% to regain the €1.00 level but volumes were weak with a mere 460 shares changing hands. The market is still awaiting further details with respect to the mandatory offer that may be launched by Mapfre Internacional in the event that the MFSA approves its acquisition of Munich Re’s 19.9% shareholding in Middlesea.
Elsewhere, 4 equities closed lower while the share price of Bank of Valletta plc maintained the €2.74 level after briefly touching a high of €2.76. The MSE Share Index closed today’s trading session 0.4% lower at 3,364.970 points mainly following the declines registered by HSBC Bank Malta plc (-0.3%) and International Hotel Investments plc (-1.2%). The steepest declines were registered by Lombard Bank Malta plc whose share price dropped 3% to €2.84 on a solitary deal of 1,000 shares. Lombard’s equity has dropped by 7.6% since trading at a high of €3.075 on 24 March when the equity responded positively to the publication of the 2010 financial statements.
No trading on the Malta Stock Exchange will take place tomorrow due to a public holiday.