New highs for MIA and Crimsonwing
The share price of Malta International Airport plc advanced by 1.1 per cent today to close at a fresh three-month high of €1.77 across five trades totalling 5,800 shares.
The airport operator is expected to publish the October traffic results next week.
During the first nine months of 2012, MIA registered a 4.1 per cent rise in passenger numbers to just below 2.9 million passenger movements. The airport operator is expected to achieve its third consecutive record of passenger movements.
The equity of Crimsonwing plc also hit a new 15-month high of 35c on a single deal of 15,000 shares.
Last week, the Crimsonwing Group revealed expectations of improved performances in the future with the target of reaching the €2 million pre-tax profit figure by the next financial year ending March 31, 2014.
Crimsonwing also announced that it was awarded new international contracts by Mothercare, Mastermate and the Rezidor Group.
The other positive performer today was Lombard Bank Malta plc with a 0.5 per cent increase to regain the €1.87 level on increased volumes of 59,000 shares. Towards the end of the session new bids were placed at €1.88 with lowest offers at €1.90.
Meanwhile, Bank of Valletta plc closed unchanged at the €2.49,8 level as the equity again failed to hold on to an intra-day high of €2.50.
Volumes decreased from yesterday's level of 150,000 shares to a total of 23,385 shares across 22 trades. The bank's shares are trading with the entitlement to the final gross dividend of 13c per share and to the one for nine bonus share issue.
Also in the financial sector, HSBC Bank Malta plc's share price slid one per cent lower back to the €2.77 level across two trades totalling 1,150 shares. Similarly, the equity of Middlesea Insurance plc eased 1.3 per cent lower to the 74c level on volumes of 5,000 shares.
Elsewhere, GO plc maintained the €1.01 level on low volumes of 2,468 shares and MaltaPost plc traded unchanged at the 72c level across 1,541 shares.
On the bond market, the Rizzo Farrugia MGS Index moved higher for the fourth consecutive session to reach a new two week high of 996.729 points.
This reflects the continued decline in Eurozone yields which re-tested near three-week lows of 1.45 per cent this morning.
However, benchmark 10-year German Bund yields recovered by this afternoon to regain the 1.48 per cent level as demand for safe-haven assets eased after a successful Italian bond auction.
Italy managed to sell a total of €7 billion in a combination of five and 10-year bonds at the lowest cost since May 2011 in spite of the recent political uncertainty created by threats from former Italian Prime Minister Silvio Berlusconi to bring down Mario Monti's government.
Tomorrow marks the closing of subscriptions for the three new Malta Government Stocks.
The new stocks and the respective prices are as follows: 3.75 per cent MGS 2017 (IV) FI at 105.00 per cent (YTM: 2.633 per cent); 4.3 per cent MGS 2022 (II) FI at 102.50 per cent (YTM: 3.982 per cent); 4.8 per cent MGS 2028 (I) at 100.75 per cent (YTM: 4.732 per cent).
The total aggregate amount on offer is of €100 million subject to an over-allotment option of up to a further €40 million.