The equity market continued to attract the lion's share of business during yesterday's session at the Malta Stock Exchange as investors with excess funds bought into the market replacing shareholders who are selling out to cash in on their profits.

Malta International Airport shares registered a new record high for the ninth consecutive session. Shares immediately shot up 4c or 3.2% on opening and later in the session, all the supply at the Lm1.29c level was cleared out. The spread seems to be widening, as at the close of business the best bid in the market was for 1,300 shares at Lm1.25c5 while a mere 600 shares were offered at Lm1.31c.

Investor continued to book profits on their holdings in HSBC Bank (Malta). During yesterday’s session turnover totaled 3,800 shares which changed hands across 4 transactions, resulting in a 6c drop in the price. HSBC is due to announce its full year results later on this month and speculation is high on how much dividend the board of directors will deem fit to declare.

A single trade of 602 shares helped Lombard Bank reclaim its Lm4.25c1 level for the first time this year. The other banking stocks too registered modest gains. FIM Bank were up a cent to $1.08c on purchases of 112,200 shares spread across five different trades, while Bank of Valletta registered the minimal of moves north.

BOV shares immediately set off on a positive footing with investors buying into the Lm4.75c immediately on open. As the session progressed, appetite for the stock saw investors nibbling at the Lm4.76c and then the Lm4.77c level, but a single second before the closing bell a seller brought the price down to it’s opening level.

Trading in Maltacom, Global Financial Services Group shares and San Tumas Shareholdings did not effect their previous closing levels of Lm1.70c, Lm1.04c and Lm0.75c respectively.

In the fixed interest sector of the market, activity was spread across eight corporate bonds and seven government stocks. Yield hungry investors bought corporate issues in healthy amounts. On 10,000 nominal, the 6.15 per cent Bank of Valletta 2010 gained 55 ticks, the 6.50 per cent Gasan Finance 2009 gained 1.3 per cent on 6,600 bonds purchased, while the 6.20 per cent IHI 2013 moved north by a full euro. Among sovereign paper single trades dominated most of the trading with the exception for the 5.10 per cent MGS 2022a (fungible) issue where 24,700 stocks changed hands across five trades helping the price close at the Lm101.75 level.

The MSE Index threaded water at 3,323 points.