Shallow trading activity on the local equity market persisted today with only €24,277 worth of shares traded this morning representing the tenth consecutive session in which less than €100,000 worth of trades were executed on the local market. Four equities were active today with Bank of Valletta plc edging 1.2% higher to close at the €2.075 level on volumes of 5,376 shares.
On the other hand, Malta International Airport plc eased once again after failing to hold on to its recent 2012 high of €1.78 as the equity dropped 1.1% today to the €1.75 level on volumes of 5,660 shares. However, this afternoon, MIA published the 2012 half year traffic results revealing a 1.6% increase in passenger movements during the period under review following record movements during the months of May (+5.8%) and June (+8.5%). The airport operator explained that this was a result of a 3.5 percentage point increase in the seat load factor which offset the 3.1% drop in seat capacity. The announcement also revealed that the German market was the main driver of growth with an 11.5% increase whilst Italy and Spain contracted by 7.5% and 7% respectively.
The other two active equities, namely HSBC Bank Malta plc and International Hotel Investments plc, ended this morning’s session unchanged at €2.51 and €0.85 respectively also on low volumes.
Overall, the MSE Share Index edged 0.2% higher to 3,022.899 points.
On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 985.622 points as Eurozone yields continue to ease moving below the 1.5% level for the first time this month. Eurozone yields dropped today following a successful 5-year German bond auction signalling the continued demand for safe haven assets as well as in anticipation of the expected rate cut by the European Central Bank tomorrow.