For most of this morning’s trading session the Malta Stock Exchange Share Index registered a new 2010 low. However as International Hotel Investments plc regained the €0.83 level during the final stages of today’s session and HSBC Bank Malta plc climbed 1.8% to €2.85, the Index closed in positive territory for the first time in seven sessions.
Despite today’s upturn, the MSE Share Index is still 2.7% below its value at the beginning of the year. Furthermore, the local Index is also lagging behind major European and American stock indices as these have a positive year to date performance ranging between 1.7% and 3%.
Meanwhile, Bank of Valletta plc reversed yesterday’s increase as its share price fell 0.5% to the €3.185 level across fourteen trades amounting to over 17,100 shares. Malta International Airport plc also traded 0.6% lower to close at the €1.55 level on volumes of 6,600 shares.
Medserv plc shares were active for the first time in over a month. A single trade of 585 shares was transacted at the €4.28 level, unchanged from the previous close. The oil and gas services company recently announced that it signed a memorandum of understanding with T.E.A. Shipping. Further details available at http://rizzofarrugia.com/news-events/2010/mou-with-t-e-a-shipping-mds06/.
On the bond market, various Malta Government Stocks were active today with particularly high volumes traded in the 5% MGS 2021 (I) and the 20-year paper. A total of €2.1 million (nominal) traded with prices trending upwards as the benchmark 10-year Eurozone yield eased towards the 2.30% level.
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