Stock exchange: MIA hits new 2010 high before retreating

The share price of Malta International Airport plc rose to a new 2010 high of €1.64 at the stock exchange today on the back of last week’s announcement revealing that the airport operator registered a 19.3% increase in passenger movements during May 2010.

However a thin trade executed at the last minute of the session pushed its share price back to the €1.561 level representing a 2.1% drop in MIA’s share price from the previous close. Since last week's share split, volumes in MIA shares increased and this morning 14,000 shares were traded.

The negative run across the local equity market persisted as six out of the eight active equities traded lower. The Malta Stock Exchange Index declined by 0.4% to 3,432.618 points.

HSBC Bank Malta plc slipped a further 0.7% to yet another 2010 low of €2.879 on volumes of 6,200 shares. Bank of Valletta plc’s share price edged minimally lower to the €3.298 level as over 10,000 shares traded.

Another loser was Plaza Centres plc whose share price slumped 7% to its limit-down price of €1.516 – a new 2010 low. A single trade of 14,000 shares was transacted today. Medserv plc and Middlesea Insurance plc were the other two negative performers today.

On the bond market, the price of the 5.25% MGS 2030 climbed 300 basis points to 102.50%. This stock was recently on offer on the primary market at 99.50%.

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