MSE Share Index hits another 10-month high

The local equity market moved higher for the fifth consecutive session with a further 0.2% increase in the MSE Share Index to yet another 10-month high of 3,141.318 points.

Today's upturn was fuelled by the 0.7% increase in the share price of HSBC Bank Malta plc to €2.71,9 across four trades totalling 14,704 shares.

Meanwhile, for most of this morning's session, Bank of Valletta plc traded at the €2.20 level (-2.2 per cent), but in the final minutes of the day, the equity regained the €2.25 level to close unchanged.

A total of 11,325 shares changed hands across nine trades. Last month marked the end of the bank's financial year and the results are generally published by the end of October.

The only other active equity was Malta International Airport plc which eased by 1.7 per cent to €1.73 on a single deal of 7,400 shares. In the coming days, the airport operator is expected to publish the September traffic numbers.

On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 997.943 points as the Central Bank of Malta Stockbroker raised its bid prices for local government paper

This contrasted with this morning's increase in Eurozone yields which moved closer to the 1.5 per cent level on speculation that Spain is willing and close to requesting a bailout.

However, this afternoon, Spain's Prime Minister Mariano Rajoy stated that the country will not request a bailout this weekend. These comments pushed the benchmark 10-year German bund yields back to 1.475 per cent.

www.rizzofarrugia.com