Weakness in Plaza Centres

Local equities traded sideways during yesterday's session at the Malta Stock Exchange, although activity remained relatively brisk in both equities and bonds.

Plaza Centres was the day's top loser, declining in excess of three per cent as 2,000 shares were sold across a single transaction at the 63c level. At the end of the session, a massive spread developed between bids, coming in at the 60c level and supply, which saw 1,800 shares best offered at 69c9.

Maltacom shares too declined, this time by 0c5 to Lm1.37c, although trading activity picked up during the mid-week session. In fact, a healthy 12,842 shares were exchanged across six transactions.

Bank of Valletta was the only equity to close in positive territory. Volume was not particularly encouraging, with merely 879 shares being exchanged across three transactions. But this was enough to see a penny increase in its share price which closed the session at Lm4.83c.

HSBC Bank Malta, the largest listed company on the local exchanged, was unaffected by the five trades which saw a total of 2,785 shares being transacted.

Similarly, single deal trades in both International Hotel Investments and Malta International Airport shares did not alter their previous closing levels of €0.79c and Lm1.32c respectively.