MSE Index closes week above 3,000-point level

Despite closing today's session slightly lower, the MSE Share Index remained above the 3,000-points level closing 1.4% higher this week.

This morning, the gains registered by Go plc and Plaza Centres plc were outweighed by the declines in the share prices of the two large banks and Malta International Airport plc.

Meanwhile, the gains registered by the local equity benchmark this week were mainly due to the 7.1% increase in the share price of International Hotel Investments plc and the 4.5% rise in the equity of Go plc offsetting the declines in the two major banks.

Plaza Centres plc today affected its three-for-one share split and a single trade of 800 shares was transacted at 90c, reflecting a 58.7% increase from its previously adjusted level of 56c7. Following the re-nominalisation and the subsequent share split, the nominal value per share is now of 20c.

The other positive performer for the day was Go plc as the share price of the quad play telecom operator inched 2.2% higher to close at 92c on activity of 11,060 shares. This week Go's share price advanced by a further 4.5% and the equity is currently 31.4% above its all-time low of May 14.

The equity of Malta International Airport plc was active for the first time during the week with the share price easing by 1.1% to €1.73 on volumes of 5,000 shares. MIA will be publishing its May passenger statistics during the course of next week.

In the banking sector, both active equities closed lower today.

Bank of Valletta plc retreated by 1% to close at €2.06 on volumes of 10,291 shares with HSBC Bank Malta plc touching a fresh intra-day 37-month low of €2.46 but recovered to the €2.48 on fresh support for the equity.

A total 15,100 shares traded today. Both banking equities closed lower this week with HSBC down 0.4% and BOV with a 1% decline. Shortly after the close of today's trading session, HSBC announced that its interim results will be published on August 7.

On the local bond market, the Rizzo Farrugia MGS Index maintained its upward path to close at 990.284 points as the Central Bank of Malta once again adjusted the bid prices for the local government stocks upwards.

The Index advanced by 0.17% this week. The actions by the Central Bank of Malta reflect the movements in the benchmark Eurozone 10-year yields as these touched yet another fresh all-time low of 1.145% this morning due to continuous fear regarding the Spanish banking sector and the inability of policy makers to stem the region's debt crisis.

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