MSE Share Index at new 4-month high

The MSE Share Index, the local equity benchmark, closed in positive territory for the third consecutive session with a further 0.1% rise to 3,042.569 points. This morning’s upturn was solely due to the 0.5% increase in the share price of Bank of Valletta plc on a very small deal of 300 shares.

Meanwhile, all the other active equities ended this morning’s trading session on the Borza unchanged. HSBC Bank Malta plc held on to the €2.50 level across six trades totalling 27,436 shares.

A further 4,500 GO plc shares changed hands at the €0.95 level with lowest offers now placed in the market at the €1.00 level which would be a new 2012 high for the equity. Similarly, 4,600 International Hotel Investments plc shares traded unchanged at the €0.90 level whilst a single deal of 17,000 RS2 Software plc shares was transacted at the €0.50 level, also representing no change from the previous close.

Muted reaction to last Monday’s traffic results publication by Malta International Airport plc for the month of May. The statistics showed a 5.8% increase in passenger movements to a record for the month of May of 344,008 movements on the back of a 2.7% increase in seat capacity and a 2.2 percentage point rise in the seat load factor. Shares active for the first time following the announcement on Monday with 24,900 shares changing hands at the €1.73 level, representing no change from the previous close.

On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to 990.268 points as Eurozone yields regained the 1.28% level this morning as markets were hoping for an interest rate cut by the European Central Bank (ECB) in a bid to further counteract the prevailing economic crisis in the region. Despite pressure from various quarters, the ECB this afternoon announced that it kept its benchmark interest rate at the 1% level.