In contrast to the weak trading activity registered in the previous four days, volumes surged during this morning’s session to reach almost €0.55 million – the highest daily level since the start of the New Year.

The MSE Share Index reversed this week’s earlier declines with a 0.4 per cent increase to 3,248.32 points representing a weekly increase of 0.2 per cent.

Today’s upturn in the local equity index was mainly due to the increases in the share prices of most of the large cap equities.

The equity of Bank of Valletta plc edged 0.9 per cent higher to a new 52-week high of €2.28 on high volumes of 75,157 shares following yesterday’s positive interim statement.

The directors explained that the group registered higher non-interest income and also benefited from fair value gains on the Bank’s investment portfolio as well as lower impairment charges.

HSBC Bank Malta plc followed with a 0.7 per cent increase to the €2.74 level across 29,070 shares to also end the week in positive territory ahead of the bank’s full-year results publication on March 4.

Positive movements were also registered in the large cap equities of International Hotel Investments plc and GO plc albeit on lower volumes. IHI shares inched minimally higher to 74c1 and GO’s share price continued to recover from last Tuesday’s dip with a third successive 0.7 per cent rise to regain the €1.38 level on volumes of 3,500 shares.

Both companies have yet to announce the dates of their 2012 results publication.

Similarly, the share price of Lombard Bank Malta plc advanced by 0.5 per cent to regain the €1.89 level across three deals totalling 16,335 shares. The bank is scheduled to publish its 2012 figures on March 14.

On the other hand, Malta International Airport plc continued to ease lower with another 0.7 per cent drop back to the €1.77,6 level across seven trades totalling 27,500 shares.

The airport operator’s share price currently is 1.3 per cent below its value at the beginning of the year in spite of the further forecasted growth in passengers for 2013.

The equity of Grand Harbour Marina plc (GHM) also eased 1.1 per cent lower to €1.88 level despite an impeding board meeting, scheduled to be held on  February 27, for the directors to consider the payment of an interim dividend.

Nonetheless GHM’s equity still ended the week 3.3 per cent higher on high trading activity.

The other negative performing equity was 6pm Holdings plc with a 6.5 per cent slide to a new 19-month low of 29c across four trades totalling 40,260 shares.

Meanwhile, the two other IT equities remained close to their recent highs. 25,000 Crimsonwing plc shares changed hands at the 55c level following yesterday’s interim statement which revealed a 19 per cent increase in revenue to €14.9 million during the 10 months ended January 31 as well as higher demand for the group’s solutions.

Similarly, a single deal of 10,667 RS2 Software plc shares was struck at the 86c level.

Yesterday’s announcement by MIDI plc with respect to commencement of works on the residential block known as T17 East also did not alter the company’s share price as 50,000 shares were exchanged at the 26c level.

On the bond market, the Rizzo Farrugia MGS Index jumped 0.1 per cent to regain the 1,008-points level after eurozone yields slipped back to the 1.62 per cent level.

This was in line with the renewed demand for ‘safe-haven’ assets in view of the deepening economic recession across the Eurozone.

Locally, this morning the Treasury announced the issue of €200 million in a combination of two new Malta Government Stocks as follows: (i) 3 per cent MGS 2019 (III) and (ii) 4.5 per cent MGS 2028 (II) at prices to be determined on February 21.

Subscriptions open on February 25 and close on February 27 for the public.

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