Following two consecutive sessions of declines, the share index advanced by 0.3 per cent to 3,350.199 points following the positive movements of the share prices of the two large banks.

Bank of Valletta edged 0.4 per cent higher to regain the €2.26 level on volumes of almost 15,100 shares. Similarly, HSBC Bank Malta plc moved 0.5 per cent higher to €1.99 on a single trade of 4,445 shares.

The share price of Island Hotels Group also closed higher with a 3.7 per cent increase to the 85c level across 8,000 shares.

Recently, the group announced that its plans for a major refurbishment project at the Radisson Blu in St Julian’s, as described in the bond Prospectus dated May 6 and including the construction of further two floors and a complete upgrade of the property, have been postponed until the company obtains further information on other major real-estate projects taking place in St George’s Bay and the surrounding area.

In the meantime, the Radisson Blu St Julian’s will still be closed in November for maintenance and other minor works in anticipation of re-opening in the near future.

Meanwhile, no change was registered in the share price of Malita Investments  at the 56c level across two deals totalling 57,000 shares.

On the bond market, the Rizzo Farrugia edged 0.1 per cent higher to yet another all-time high of 1,090.826 points, as Eurozone yields slipped below the 0.9 per cent level for the first time since early September on fresh concerns related to global growth following yesterday’s comments by the International Monetary Fund that the world economy is struggling to exit the prevailing cycle of low growth.

Today, two new bond issues were launched.

Hal Mann Vella Group published a formal notice about the issue of €30 million five per cent Secured Bonds 2024 and United Finance announced the issue of €8.5 million 5.3 per cent Unsecured Bonds 2023.

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