The MSE Index closed modestly lower at 4,874.159 points during the last session of the week at the Malta Stock Exchange as declines in the share prices in Middlesea Insurance. Maltacom and Malta International Airport shares were offset by gains in Simonds Farsons Cisk and Medserv plc.
Middlesea Insurance shares suffered most on the day with the share price losing 10c or 4.76 per cent to close the session at Lm2. A total of 5,622 shares were exchanged today spread across five transactions. At the end of the session unsatisfied sellers at today's closing price amounted to 2,800 shares. Best bids stood at Lm1.98.
Similarly the share price of Maltacom plc and Malta International Airport shares suffered minor declines as in both cases the price dropped by 0c5 to close the day at Lm1.49,5 and Lm1.33,5 respectively. Activity in Maltacom shares was quite strong considering the volumes traded in the previous sessions. A total of approximately 20,000 shares were traded today across nine transactions. Simonds Farsons Cisk was the day's top gainer as the share price moved up 3.67 per cent or 2c9 to close the day at 81c9. Medserv shares ended the week on a positive note as well, as the price gained 4c or 3.05 per cent to close the session at Lm1.35. A total of 9,00 shares were swapped across three transactions.
FIMBank was the day's most actively traded equity with 50,000 shares being exchanged across three transactions with the share prices closing at USD1.70. Similarly robust trading activity was evidenced in International Hotel Investments shares where 48,000 shares were dealt during the day to close off at €1.
HSBC shares attracted the highest value of business for the day with 28,214 shares carrying a market consideration of Lm55,581 exchanged across 23 transactions.
Elsewhere in the market activity in Bank of Valletta and Datatrak holdings did not effect their previous closing prices of Lm3.59 and 25c respectively.
European markets rally
Yesterday European equities advanced to a fresh five-year high on a quiet day for corporate news as the year-end rally showed little sign of losing momentum. The FTSE Eurofirst 300 gained 0.5 per cent while the German Xetra Dax added 0.4 per cent and the French CAC 40 rose 0.5 per cent.
London equities moved further towards five-year highs, as shares in BAE Systems rose on news of the demise of an inquiry into allegations of corruption within key Saudi arms contracts. The FTSE 100 started the day 0.3 per cent higher at 6,246.5, taking it within touching distance of November's five-year peak of 6,256.0. The mid-cap FTSE 250 was flat at 11,049.6, but still around its all-time high.
Japanese stocks climbed moderately, responding to solid but expected Tankan figures on business sentiment. The Bank of Japan's Tankan survey, which showed continued improvement of business confidence in the last quarter, led to increases in most sectors, but failed to change the broad view that the central bank would keep interest rates unchanged next week. The Nikkei 225 stock average was up 0.5 per cent. The broader Topix rose only 0.3 per cent.
The financial news was compiled by Valletta Fund Management (tel. 8007 2344) and Bank of Valletta plc (Tel 2131 2020). BOV and VFM are licensed by the MFSA to conduct investment services business.