Financial news

Following a hushed Malta Stock Exchange session yesterday, the MSE Index recouped the previous day's dim showing by gaining 0.1 per cent to close at 4,860 points. At closing no negative readings were registered on the trading floor, with a total of 49 trades across all classes of locally listed securities.

Trading activity in Maltapost remained high with 66,942 shares dealt across 20 transactions, which were mainly executed at the previous closing price, though in the dying minutes of the session, 13,198 shares were traded at €0.665, thereby closing 0c5 or 0.8 per cent higher.

FIMBank shut at $2.02, a new yearly high. The equity continued benefiting from the announcement made late last month, whereby they would be selling a 38.5 per cent stake in Global Trade Finance Ltd, to the State Bank of India. This has translated in a slight price increase of 0c5 or 0.3 per cent with a volume of 7,157 shares over two deals.

Positive interest in HSBC Bank Malta augmented its standing on the local exchange, with 2,501 shares being traded over five deals which resulted in a gain of 1c5 or 0.3 per cent, closing off at €4.72,5. As at close, the best bid for 501 shares stood at €4.71,5, while the best offer of 7,000 was at €4.75.

Activity in Crimsonwing saw 5,000 shares being swapped over two trades with an intraday high of €0.60 representing a 0.3 per cent premium on the prior closing price.

Malta International Airport failed to move as it closed unchanged at €3.17, having a total of 7,025 shares exchanged across three deals. Similarly, a sole trade of 442 shares in Middle Sea Insurance also saw the price unaffected.

International market report - weekly round-up

During the past week, local equities bounced back from their previous dismal performance, with the MSE Index gaining nine-tenths of a per cent, to close the week at the 4,860 mark.

International Hotel Investments raced ahead by five per cent as investors purchased a total of 121,709 shares, lifting the price up to the €1.05-level, after the announcement of an exclusive agreement to develop a five-star deluxe hotel in the heart of London.

Maltapost's gains were more contained with the equity moving higher by 1.5 per cent to €0.665 as 350,223 shares were transacted across 73 deals.

Banking sector equities had a mixed fortune, with FIMBank terminating the week as the best performing equity, with a price of $2.02. HSBC Bank Malta moved higher by 1.4 per cent to €4.725 after the company reported that it would be announcing its full year results following a board meeting set for February 18.

On the contrary Bank of Valletta continued to decline, losing almost a full percentage point to €6.249. Lombard Bank Malta was much weaker and its price movement more drastic as 1,750 shares traded, brought a 3.7 per cent decline to its price, which terminated at €13.00.

Losses were also sustained by Middlesea Insurance, Malta International Airport, Simonds Farsons Cisk, Plaza Centres and Datatrak Holdings, as opposed to Crimsonwing which gained a further 3.5 per cent to claim the €0.60 level on aggregate purchases of 71,289 shares.

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.