THE MAIN stock index inched up despite shortened trading brought about by the local bourse's transition to a new electronic trading system.

Mutual funds, pensions and endowments are spending more on stocks than at any time since the start of the bull market, just as individuals grow the most pessimistic in a year.

Stock futures are trading in a narrow range as investors put a recent rally on pause and European markets react coolly to tests measuring the health of the continent's banking system.

During today's trading session on the Malta Stock Exchange, over 350,000 International Hotel Investments plc shares traded helping the price edge 2.3% higher to 0.89. Last Friday there was also high trading activity in IHI with volumes of over 76,000 shares as the Company held its Annual General Meeting and chairman Alfred Pisani indicated that the secondary listing in London is well underway.