The local equity market rounded off the last full-week of August with a positive performance for the first time in eight sessions with the MSE Share Index rising by 0.4 per cent to 3,083.321 points.
However, despite today's upturn, the local equity market still closed the week in negative territory with a 1.3 per cent drop mainly due to the declines in the three largest equities by market cap, namely the two large banks and International Hotel Investments plc (-2.7 per cent).
The share price of HSBC Bank Malta plc eased marginally lower today to close the week at its 23-month low of €2.65 representing a 1.9 per cent weekly drop.
On the other hand, Bank of Valletta plc partially recovered by 0.6 per cent to regain the €2.51 level across 12 trades totalling just over 19,000 shares. However, BOV's equity still ended the week 2.1 per cent lower.
A last minute trade of 900 Malta International Airport plc shares was transacted at the €1.58 level representing a rise of 5.33 per cent. The only other active today was RS2 Software plc which maintained the 55c level across a further 16,300 shares. The IT company is scheduled to publish its half-year results next Monday.
Yesterday evening, GlobalCapital plc published its financial statements as at June 30.
GlobalCapital incurred a net loss after tax of €1.6 million during the first half of 2011 compared to a loss of €1.4 million for the equivalent period in 2010. The downturn in the capital markets led to fair value losses amounting to €0.9 million during the first half of 2011.
On the bond market, the Rizzo Farrugia MGS Index reversed most of yesterday's decline as it edged 0.3 per cent higher to 990.278 points following the renewed downturn in Eurozone yields.
Nonetheless, volumes remained high across Malta Government Stocks with a further €2.9 million (nominal) changing hands today.
During the past five session just over €34 million (nominal) traded - just below the record trading activity of €34.4 million in local government paper during the first week of April.