Financial news

Following a negative streak, the MSE Index closed in positive territory after yesterday's trading session. The Malta Stock Exchange closed up 0.1 per cent to 4,817 points. This was fuelled by gains in the major banking components and the latest newcomer MaltaPost.

FIMBank rose six cents, which translates in a 3.2 per cent increase on its previous price. A total of 14,160 shares switched hands over seven deals with a total value of $18,157.90. The Bank will be presenting its full year results for 2007 in a month's time.

Trading activity in HSBC Bank Malta started well into the session with 8,242 shares being traded over nine deals which resulted in a slight increase to close at €4.66.

During the session Bank of Valletta traded at an intraday high of €6.35 but eventually settled back €6.31, which still equates to a 1c or 0.2 per cent gain. Elsewhere two investors swapped 750 shares of Lombard Bank Malta at the €13.50 level which represents a 10c or 0.7 per cent discount to its previous closing price.

For the sixth consecutive session, MaltaPost remained the most active equity on the local market with a further 65,757 shares changing hands across 34 transactions.

In a separate announcement, market participants were informed that GasanMamo Insurance Limited held the equivalent of 5.683 per cent of the issued share capital of MaltaPost.

Activity in Go remained relatively robust with 14,255 shares changing hands over nine deals. Sellers had the upper hand squeezing the price lower by two cents to close the week at €3.03.

Healthy trading activity in both International Hotels Investments and Crimsonwing did not alter their previous price levels of €1 and €0.58 respectively.

International market report - weekly round-up

During the past five sessions the MSE Index lost almost two per cent of its value to terminate yesterday at 4,816 points. However, pockets of strength were evident in the market, particularly among the recently listed equities.

HSBC Bank Malta and Bank of Valletta, shed 3.9 per cent and 3.7 per cent of their respective values over the past week.

FIMBank was this week's top gainer, moving higher by 9.8 per cent to $1.92. During the week, the company announced the sale of a 38.5 per cent stake in Global Trade Finance Ltd.

On the contrary, Go announced that it had bought an indirect stake of approximately 10.5 per cent in a Greek company called Forthnet. Go's shares ended the week at the €3.03 level.

MaltaPost shares gained 5.65 per cent in their first full week of trading to close on Friday at €0.655. The equity was by far the most active and liquid equity on the market.

Crimsonwing, enjoyed a positive five sessions on robust volume. In fact, 109,192 shares were exchanged across 17 transactions, with the price moving higher by 5.5 per cent to terminate at the €0.58 level.

Elsewhere in the market, Lombard Bank Malta and Grand Harbour Marina suffered slim declines on low volume activity whilst Medserv shed 2.6 per cent to terminate at the €4.044 level.

This article has been prepared by Bank of Valletta p.l.c. (the Bank), which is licensed to conduct investment services business by the MFSA, for your general information only. This information is not a solicitation or offer by the Bank to acquire or sell securities. Nor does it constitute any form of advice by the Bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.