The local equity market benchmark moved 0.1 per cent higher to close at 3,344.558 points mainly due to the gains in the share prices of Bank of Valletta plc and Malta International Airport plc.

BOV edged 0.3 per cent higher for the second consecutive session to regain the €3.23 level after recouping from an intra-day low of €3.21 across 23,722 shares.

MIA’s equity regained the €1.60 level for the first time in over a month. Five trades amounting to 15,220 shares were transacted at €1.60 representing a 2.6 per cent rise from the previous close and 6.7 per cent higher than its recent low of €1.50.

Following today’s upturn the airport operator is now 33.3 per cent higher than its value at the beginning of the year and currently ranks as the best performing equity year-to-date.

Meanwhile HSBC Bank Malta plc edged minimally lower to €2.79,4 on volumes of 13,880 shares with Lombard Bank Malta plc also in negative territory as its share price slumped 1.9 per cent lower to yet another fresh 2010 low of €2.60.

GO plc and International Hotel Investments plc ended the day unchanged. 24,500 IHI shares changed hands at the €0.80 level with GO holding on to the €1.86 level across two trades totalling 17,216 shares.

Crimsonwing plc failed to recover from yesterday’s 16.7 per cent decline as another 16,100 shares traded at the €0.35 level.

Malta Government Stock prices continued to drop as the 10-year Eurozone benchmark rate reached the 2.46 per cent level. The longer dated government paper was the most affected as the Central Bank of Malta stockbroker reducing its bid price by another 30 basis points to 102.58 per cent.

On the primary bond market, preferred applicants in FIMBank’s bond offering have until tomorrow to submit their application and avail themselves of the guaranteed minimum allotment and preferential price of 99 per cent.

The public offer opens next Monday.

Further details available at http://rizzofarrugia.com/news-events/2010/details-of-new-bond-issue-6/ .

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