BOV, HSBC lift Share Index higher

The Share Index advanced by 0.19 per cent to 4,470.277 points today, reflecting the gains registered in the share prices of BOV and HSBC. Meanwhile, only two other equities were active today, with both finishing lower. Once again, trading volumes were very weak.

With today’s upturn, the local equity index posted a weekly gain of 0.10 per cent. Nonetheless, on a monthly basis, the Share Index declined by two per cent, effectively erasing all the gains in the Index registered in June. Furthermore, the monthly drop for July is the sharpest since September 2014.

The most actively traded equity today was Bank of Valletta which climbed by 0.5 per cent to the €2.22 level across 11,552 shares.

Within the same sector, a single deal of just 2,525 shares lifted the equity of HSBC 1.9 per cent higher to regain the €1.60 level. The bank will reveal its interim results on Wednesday.

In contrast, Malta International Airport retreated by 0.7 per cent back to the €4.20 level on 2,000 shares. Recently, MIA upgraded its 2016 year-end traffic results to +7.5 per cent from the original forecast of a 2.4 per cent growth in passenger volumes. MIA’s 2016 interim financial statements will be published...