Sustained buying activity in the major banking equities helped the MSE index rally to a record high of 6,334 points during yesterday's trading session.
Bank of Valletta was the day's most liquid equity as 35,482 shares were exchanged across 59 trades. The equity commenced trading at Lm4.80 and quickly climbed to the Lm4.85 level. However, at this level supply started appearing and the equity closed the day at Lm4.79,9.
Trading in HSBC Bank Malta carried the highest value, with Lm359,304 worth of shares being exchanged across 108 deals. The equity traded within a tight range, ending the day at a 2c premium over its previous close, at the Lm11 level.
Middlesea Insurance was the day's top gainer as the equity jumped 10c or two per cent to close the day at Lm5. This positive performance was brought about by just 1,307 shares which were exchanged across six transactions.
Investors continued to nibble at offers for Maltacom's shares which are providing a strong resistance at Lm2.20. The day's activity consisted of 32,802 shares which were exchanged across 28 transactions.
Elsewhere Malta International Airport gained 0c5 or 0.3 per cent as 1,300 shares were exchanged at the Lm1.54c level, while International Hotel Investments reclaimed the €0.86 level although the equity briefly traded higher.
Global Financial Services Group shares closed barely lower at Lm1.70c with demand for a further 1,513 shares remaining unsatisfied at this level, against a best offer of 480 shares at Lm1.78c.
Tokyo shares edge up on gains at security sector
Rises in securities companies pushed the Japanese market up yesterday but the overall gains were limited by falls in real estate shares and a static performance from export stocks. The Nikkei 225 closed 0.5 per cent higher at Y16,319.04.
The Topix rose a more modest 0.1 per cent to 1,666.78 - depressed by a fall in banking stocks, which have a strong weighting in the index. The securities sector jumped 2.3 per cent. Nomura, Japan's biggest securities house, was up 3.8 per cent to 2,440. Mitsubishi UFJ Securities climbed 3.3 per cent to Y1,706.
European bourses rallied yesterday following a late climb on Wall Street, as oil prices moved lower, and the latest bout of takeover talk, pushed the benchmark FTSE Eurofirst 300 to a 56-month high. The Eurofirst 300 added 0.3 per cent to 1,370.21 with the Xetra Dax in Frankfurt up 0.3 per cent to 5,886.78, the CAC-40 in Paris up 0.4 per cent to 5,135.67 and the FTSE 100 in London 0.3 per cent ahead at 5,970.9.
An explosive start to the bank reporting season propelled US equities to their highest close for five years on Tuesday.