Stock market: BOV and MIA see gains

The MSE Share Index edged marginally higher during this morning’s session as gains in Bank of Valletta plc and Malta International Airport plc offset the declines in HSBC Bank Malta plc, International Hotel Investments plc and GO plc.

Following last week’s 5.6% jump, BOV’s share price rose a further 0.9% today to close at a 1-month high of €3.27. Investors await the results of the stress tests due to be revealed next Friday.

MIA continued to build on last Friday’s 1.3% increase as the share price gained another 0.6% this morning to the €1.59 level on higher volumes of almost 22,000 shares. Renewed investor interest for the equity of MIA was evident following last Thursday’s traffic results announcement revealing a 10.3% increase in passenger movements during the first half of 2010 and an improved passenger growth forecast for the year from 6% to 8%.

On the bond market, the recently listed 6.2% Tumas Investments plc 2017 – 2020 bonds added 50 basis points closing at a new all-time high of 103%. Meanwhile the allocation policy with respect to last week’s bond offering by Mediterranean Investments Holding plc is expected to be announced shortly.

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