The Malta Stock Exchange index has shown a clear trend upwards since beginning its recent advance in June. Yesterday, the index continued that momentum by advancing almost 25 points, or 0.7 per cent, to close at the 3558.175 level.

HSBC Bank Malta plc witnessed its shares close up strongly, gaining 6c or two per cent in robust volume of 26,485 shares across 19 trades. On Friday the bank announced that, for the six-month period ending June 30, it had registered a profit before tax of €42.2 million, which is an increase of 21.4 per cent, or €7.4 million, compared with €34.8 million for the same period in 2009.

Bank of Valletta plc also advanced on the day, gaining 2c5, or 0.8 per cent, to close at €3.28 in 11 trades of 11,215 shares. BOV, also on Friday, issued an interim directors statement for the period commencing on April 1 to date. During the third quarter of the current financial year, the retail and corporate businesses of the bank continued to perform well.

On the downside, Maltapost plc, lost 5c, or 5.6 per cent, in a single trade of 2,256 shares. Also losing ground was International Hotel Investments plc, which dropped 0c1, or 0.1 per cent, also in a single trade of 1,000 shares.

Other shares to trade in the session, yet finished unchanged were Go plc which closed at €1.90, Lombard Bank Malta plc which ended at €2.83, and Malta International Airport, which closed at €1.62.

This article has been prepared by Bank of Valletta p.l.c. (the Bank), which is licensed to conduct investment services business by the MFSA, for your general information only. This information is not a solicitation or offer by the Bank to acquire or sell securities. Nor does it constitute any form of advice by the Bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.