MSE Share Index up as banking equities rise

Most of the equities of the local banks kicked off the second quarter of 2012 on a positive note helping the MSE Share Index edge 0.5% higher to 2,953.121 points. The share price of Bank of Valletta plc advanced by 0.5% to close at the €2.13 level across ten trades totalling just over 12,800 shares. The Bank generally publishes its half-year results by the end of April.

Similarly, HSBC Bank Malta plc’s equity jumped 1% higher during this morning’s session to regain the €2.54 level across two trades totalling 1,100 shares. The Bank is scheduled to hold its Annual General Meeting on 18 April.

Also in the financial services sector, FIMBank plc’s share price reversed last week’s decline as new bids helped the equity climb 2.4% higher to the US$0.87 level. Three trades totalling 54,200 shares were transacted today with the equity still trading cum-dividend until tomorrow.

Meanwhile, no changes took place in the share prices of the three other equities. Malta International Airport plc’s equity, which is still trading with the entitlement to the final gross dividend of €0.0615 per share, maintained the €1.70 level across volumes of 4,650 shares. GO plc held on to last week’s 4.9% rise as a further 555 shares changed hands at the €0.839 level. Likewise, an insignificant trade of 190 Medserv plc shares was transacted at the €3.95 level. Medserv’s shares will turn ex-dividend as from Wednesday 11 April.

On the bond market, the Rizzo Farrugia MGS Index moved back into negative territory with a marginal decline to 982.149 points as Eurozone yields edged minimally higher. International markets digested last week’s decision by the Eurozone finance ministers to bolster its defence against the prevailing sovereign debt crises whilst also awaiting the publication of economic data by France, UK, Germany, the eurozone and the United States.