Trading activity across the local equity market during the final trading session of the week was subdued reflecting the summer season.

The MSE Share Index closed marginally higher at 3,307.581 points as the 0.5 per cent increase in the share price of Bank of Valletta plc offset the 1.6 per cent decline in the share price of Malita Investments plc.

BOV’s equity regained the €2.12 level on activity of just under 30,000 shares. Meanwhile, the share price of Malita Investments closed at the 54c1 level on increased volumes totalling 175,800 shares.

Go plc held on to the €2.38 level on volumes of 6,500 shares. The telecoms group yesterday reported an improved performance during the first six months of 2014, largely as a result of an increased client base despite the competitive market environment.

Go’s operating profit (before exceptional items) amounted to €11.8 million, an increase of 13.3 per cent over the comparable period in 2013. Pre-tax profits of €8.5 million represent an increase of 3.1 per cent over the first half of 2013.

Similarly, Lombard Bank plc closed unchanged at €1.60 on shallow volumes of 4,620 shares transacted across two deals. Lombard will be publishing its interim results on Wednesday.

Meanwhile on the bond market, the Rizzo Farrugia MGS Index climbed to a new record high of 1,067.776 points as Eurozone benchmark yields dropped below the one per cent level for this first time in history.

The renewed decline in yields reflected the weak economic data published this morning showing Germany’s GDP declining by 0.2 per cent during the second quarter and France’s economy unexpectedly failing to grow for a second consecutive quarter.

Earlier this morning, the Treasury announced that the refunds to applicants of the 4.1 per cent MGS 2034 (I) will be affected on Tuesday. This new bond is also expected to commence trading on the official list next week.

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