For the third consecutive session high volumes were traded in the 20-year Malta Government Stock.

A further €3.7 million changed hands today with the price hitting an intra-day high of 104.30 per cent before easing to a close of 104.25 per cent as the Central Bank of Malta stockbroker revised the indicative bid price towards the end of the session.

During the first three sessions of this week a total of over €11 million (nominal) traded in the 5.25 per cent MGS 2030.

Malta Government Stock prices continued to hit new highs as benchmark eurozone yields remained at historically low levels. The current rally in MGS prices is in line with the prevailing ‘flight to safety’ being reported in Europe and the United States.

Meanwhile trading activity in the local equity market continued to dwindle. Only four equities were active today with both large banks again closing lower. HSBC Bank Malta plc shed 0.7 per cent to €2.88 with Bank of Valletta plc eased a further 0.3 per cent to €3.24 on a miniscule trade of 500 shares.

On the other hand, new bids in GO plc towards the end of the session lifted the equity 1.1 per cent higher to regain the €1.89 level across three trades amounting to 5,000 shares.

The telecoms group is scheduled to publish its 2010 interim results next Tuesday.

There was a muted reaction to yesterday’s results publication by Lombard Bank Malta plc.

The equity closed unchanged at €2.80 on a deal of just 500 shares.

Yesterday, the Lombard Group published its 2010 half-year results revealing a 6.6 per cent increase in profitability to €3.9 million.

Further details on results available at:

http://rizzofarrugia.com/news-events/2010/interim-results-lom05/

www.rizzofarrugia.com