During today's trading session on the Malta Stock Exchange, over 350,000 International Hotel Investments plc shares traded helping the price edge 2.3% higher to €0.89. Last Friday there was also high trading activity in IHI with volumes of over 76,000 shares as the Company held its Annual General Meeting and chairman Alfred Pisani indicated that the secondary listing in London is well underway.

Mr Pisani explained that the listing of the company's shares in London will take place following a new share issue of up to 200 million shares at a price not less than the nominal value of €1.00 per share.

Also last Friday, IHI announced a 4% bonus issue to all shareholders on the company's register as at 31 December 2009 apart from the three institutional shareholders namely Corinthia Palace Hotel Company Ltd, LFICO and Istithmar. IHI would also be offering all shareholders to buy back the shares at their nominal value of €1.00.

Meanwhile the share prices of Bank of Valletta plc and HSBC Bank Malta plc both traded lower despite the announcement of stress test results on Friday evening. The results confirmed that BOV is well capitalized and has a sufficient buffer to face future possible shocks.

While European banking equities responded positively to the stress test results, there was a muted reaction on the local market with BOV's share price edging 0.3% lower to €3.261 on meager volumes of 2,655 shares. HSBC also edged 0.3% lower to drop back to the €2.98 level on 3,000 shares ahead of next Friday's interim results publication.

Malta International Airport plc maintained the €1.60 level as all offers amounting to over 20,600 shares were snapped up at this level. The airport operator is expected to publish its interim results next Thursday 29 July.

Various Malta Government Stocks active during this morning's trading session ahead of the new stock issues scheduled for next week.

Last week the Treasury announced the details of two new fixed-rate stocks. Prices of these stocks will be determined next Thursday 29 July.

www.rizzofarrugia.com

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