The share index extended its recent positive run with a further 0.6 per cent increase during this morning’s session to exceed the 3,800 points level for the first time since mid-February 2011.

This morning’s uplift was largely due to the increase in the share prices of the two large banks. The equity of Bank of Valletta moved 1.3 per cent higher to €2.39 across 11deals totalling 33,251 shares.

Meanwhile, shortly after the close of this morning’s trading session, BOV issued an announcement revealing that legal proceedings have been initiated against it whereby the bank is being requested to pay an amount equivalent to a value attributed to shares of a company which had been settled on trust with the bank as trustee in 2009 and which value the plaintiffs are alleging amounted to €363 million. Based on a legal opinion received by BOV, the bank is rejecting this claim against it as completely unfounded.

The share price of HSBC also trended in positive territory with a 1.5 per cent increase to €2.10 across seven deals totalling 23,812 shares.

Yesterday, the bank distributed the 2014 annual report and all other relevant documentation to shareholders ahead of the upcoming annual general meeting scheduled to be held on April 22.

The only other positive performing equity was MaltaPost with 468 shares changing hands at a new all-time high of €1.42 representing a 0.6 per cent increase over the previous closing price.

Meanwhile, there were no changes in the share price of International Hotel Investments at the 71c level on a single trade of 4,175 shares.

Yesterday, the IHI Group published its preliminary 2014 full-year results revealing a pre-tax loss of €29.8 million as the group’s performance was adversely impacted by the weaker results of the hotel properties in Tripoli and St Petersburg (which were only partially offset by the improved performances of the Group’s other hotel properties in Europe), the one-off costs related to the sale of the 11 apartments in London as well as a net impairment of €13.3 million as the impairment charge on the properties in Libya and Russia was only partially mitigated by the uplift in the value of the group’s other properties.

Likewise, the share price of RS2 Software held on to the €2.97 level across three deals totalling 7,000 shares.

On the bond market, the Rizzo Farrugia MGS Index edged a further 0.3 per cent higher to yet another all-time high of 1,170.868 points as the Central Bank once again significantly raised its indicative bid prices for the longer-term maturities.

No trading will take place tomorrow (Good Friday) and on Monday. The Malta Stock Exchange will open again for business on Tuesday 7 April.

www.rizzofarrugia.com

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