The MSE share index inched 0.2 per cent higher to 3,364.968 points today, as four equities closed higher.
Bank of Valletta continued its upward trend with a share price increase of a further 0.4 per cent to the €2.27 level across 31,200 shares.
This month marks the end of the group’s financial year with the preliminary results generally published by the end of October.
This year the publication of the financial statements will also coincide with the publication of the results of the asset quality review and stress tests undertaken by the European Central Bank across 131 systematically important banks across Europe in anticipation of assuming its role as the single supervisor of such banks.
The results will not only establish the financial and capital position of each bank but will also make recommendations on how each bank should strengthen its balance sheet.
Low trading activity took place in both Simonds Farsons Cisk and Go but both equities closed higher at €2.74 (+1.1 per cent) and €2.49,8 (+0.3 per cent), respectively.
Last week, Go announced that it was granted regulatory approval from the Cypriot competition authority with respect to its acquisition of an initial 25 per cent stake in Cablenet, a Cypriot telecommunications provider.
The other equity that gained during this morning’s session was Malta International Airport plc with a 0.9 per cent increase to the €2.32 level on volumes totalling 10,400 shares.
Last Friday, the airport operator revealed that passenger movements in August climbed by 8.6 per cent to a record 551,179 passengers on the back of an unprecedented increase in the seat load factor to 86.5 per cent coupled with a 6.6 per cent growth in seat capacity and a 5.1 oer cent increase in aircraft movements.
Meanwhile, the remaining equities closed unchanged. There was significant trading activity in Tigne Mall shares with a total of 471,130 shares changing hands across six deals and the price maintaining the 51c5 level.
Similarly, HSBC and International Hotel Investments closed unchanged at €2.04 and 64c, respectively. Middlesea Insurance held on to the 93c across 1,019 shares. Likewise, Medserv held on to its €1.27,5 level on a single deal of 3,834 shares.
On the bond market, the Rizzo Farrugia MGS Index shed 0.2 per cent to 1,078.568 points as benchmark Bund yields recovered to the one per cent level once again.
The upward push in yields materialised despite last week’s surprise decision by the ECB to cut interest rates and initiate an asset purchase programme aimed at asset-backed securities (mortgage-backed loans) and covered bonds.
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