MIA heads for a third positive week
During this morning’s trading session on the Borza, the share price of Malta International Airport plc advanced by a further 1.7% to the €1.75 level on volumes of 6,400 shares. Following today’s upturn, the equity of the airport operator is heading for...
During this morning’s trading session on the Borza, the share price of Malta International Airport plc advanced by a further 1.7% to the €1.75 level on volumes of 6,400 shares. Following today’s upturn, the equity of the airport operator is heading for the third consecutive positive week this year. The 3.6% rise since the start of 2012 follows the company’s announcement which revealed a 6.5% increase in passenger numbers during 2011 to a new record of 3.5 million passenger movements as well as last week’s announcement of the 7 new routes by low-cost carrier Ryanair.
HSBC Bank Malta plc eased minimally lower to €2.55 on weak activity of 2,000 shares while Bank of Valletta plc and Lombard Bank Malta plc closed unchanged at €2.25 and €2.55 respectively.
Similarly no movement was recorded in the share prices of GO plc at €0.95 and Island Hotels Group, which traded for the first time since 28 October 2011, at the €0.85 level.
On the local bond market, the Rizzo Farrugia MGS Index dropped by a further 0.1% to 986.968 points as Eurozone yields regained the 1.8% level. Across European stockmarkets sentiment was bolstered by the successful bond auctions of long-term sovereign debt paper by Spain and France. Spain sold €6.6 billion of sovereign bonds far exceeding the required €4.5 billion. Similarly, France received bids of €18.9 billion compared to the maximum €8 billion on offer.