The equity of Island Hotels Group Holdings plc advanced for the fifth time in the last six trading sessions with a further 3.9% gain to a new 2013 high of €0.80 across five deals totalling 17,000 shares. In its latest announcements, the Group had explained that it is actively seeking new equity investors to primarily fund the development of the Oasis project (ex-Hal Ferh site). Furthermore, in the coming weeks, the Group is expected to publish its Interim Directors’ Statement updating the market on its performance since its interim reporting date of 30 April 2013.

On the other hand, the share price of Malta International Airport plc remained under pressure as the equity eased minimally lower during this morning’s session to close at the €1.879 level on volumes of 6,300 shares.

The equity of the airport operator had reached a 2013 high of €2.10 on July5  representing a 16.7% uplift since the start of the year. However, this has almost been completely reversed as the current year to date performance of MIA is down to 4.4% after the equity came under pressure from an unchanged dividend as well as speculation on whether one of the shareholders (SNC Lavalin) of the consortium holding 40% of MIA shares is planning to sell its stake.

Meanwhile, Bank of Valletta plc and HSBC Bank Malta plc once again ended the session unchanged. BOV maintained the €2.38 level across 14,000 shares and HSBC traded unchanged at the €2.60 level on volumes of 10,100 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% lower to 1,022.742 points as the benchmark 10-year Eurozone yields regained their upward trend as the political crises in Italy eased after the country’s parliament abolished a controversial property tax.

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