The Malta Stock Exchange Index gained almost eight points, or 0.2 per cent on Friday, as investors continued to plough into banking shares, increasing the total trading volume on the day to 145,287 shares across 48 deals. The index closed at the 3,557.173 level.

In a reversal of fortune of Thursday’s performance, Bank of Valletta plc and HSBC Bank Malta plc shares swapped roles. BOV shares gained 1.1 per cent yesterday, after remaining silent for most of the week, to close at €3.810 on volume of 28,699 shares across 25 deals, while HSBC shares, which made heady gains in the last three sessions, closed unchanged at €3.100 in twelve deals for a total of 28,146 shares.

Lombard Bank plc stock, meanwhile, dropped a marginal 9c, or 0.4 per cent, to close at €2.561 in light volume of 3,272 shares across two deals.

The stock to suffer the worst performance on the day was that of Island Hotels Group Holdings plc, which tumbled 9c9, or eleven per cent, and ended the day at €0.800 in a single deal of €2,000 shares.

Shares of the local Insurance provider, Middlesea Insurance plc, added 2c, or two per cent during the session, to finish at €1.020 in two trades for a total of 10,810 shares. On Thursday, Middlesea shares lost 4c5 in light trading of 3,717 shares across two deals.

Other shares to trade during the session yet closed unchanged were FIMBank plc and Malta International Airport plc, which ended the session at US$0.950 and €1.650, respectively, on relatively heavy volumes of 50,909 shares and 21,450 shares, respectively.

Trading in the corporate bond was moderately light as volume of €151,500 nominal was executed across 19 deals. The 4.8% Bank of Valletta Plc Sub € 2020 bond suffered the day’s biggest loss, dropping €0.50, or 0.5 per cent, to end at €103.00 in seven trades for a total of €59,700 nominal.

The government stock market ended lower as four issues out of six to trade on the day, ended lower, with the remainder ending higher. The 6.35% MGS 2013 (II) issue closed €0.49, or 0.5 per cent lower, to finish at €109.56 in a single trade of €5,824 nominal.