Financial news

During the last session of the week, the Malta Stock Exchange Index closed in positive territory at 4,639 points, an increase of 0.3 per cent from its previous reading, with gains in four equities including the largest component by market capitalisation.

A sole trade in Grand Harbour Marina of 10,000 shares, spurred further optimism in the marina operator. In fact this trade pushed the price higher by 15c or 7.7 per cent to close at €2.10, an all time for the equity. As things stand the company now has a market capitalisation of €21 million, thereby surpassing Maltapost in terms of market capitalisation.

Activity in International Hotel Investments was limited to a single trade, where 9,334 shares were swapped at the €1.05 level. This translates to a 1c or 0.96 per cent increase over the previous closing price. Investors are waiting for the company's full year results which will be issued early next week.

Malta International Airport sustained its positive streak, attracting six trades for a total turnover of 7,100 shares, increasing the price by 2c or 0.6 per cent, to close at €3.35, which equates to this year's high.

HSBC Bank Malta traded marginally higher, thereby reversing losses accumulated in the previous session, by gaining 1c or 0.2 per cent, over seven trades totaling 8,399 shares.

Maltapost and Go both decreased by the slimmest of margins, where both equities registered the execution of a single trade to eventually terminate the session at €0.73 and €3.014 respectively.

Interest in 6pm Holdings has increased as the release of the its full year results edges closer, with 26,814 shares being exchanged across five deals, however this has failed to alter the previous closing price.

Bank of Valletta and Lombard Bank both closed the day unchanged.

Grand gains for GHM

Strong buying activity in the smaller capitalised companies helped the MSE Index close 0.9 per cent higher at 4,693 points.

Grand Harbour Marina was by far the best performing equity on the exchange with the equity floating higher by 20.7 per cent as 12,500 shares were purchased up to a new all time high of €2.10.

A grand total of 549,370 Fimbank shares changed hands during the four day period, thereby helping the equity gain 9.8 per cent to close the week at $1.90.

Buying activity in Bank of Valletta helped the equity recoup 1.6 per cent to reclaim the €5.69 level.

Elsewhere in the banking sector, HSBC Bank Malta traded practically flat all week, closing just slightly higher at €4.42, while Lombard Bank Malta terminated yesterday's session unchanged at €13.00. Maltapost sustained a few bruising sessions, with a total of 38,220 shares changing hands during the week.

Investors purchasing 6pm Holdings ahead of the IT company's full year results pushed the price higher by 2.8 per cent to £0.72p. Similarly International Hotel Investments gained almost a full percentage point to reclaim the €1.05 level.

Otherwise, Malta International Airport and GO gained 0.9 per cent and 0.1 per cent respectively, while Middlesea Insurance succumbed 2.2 per cent as 1,154 shares were sold down to €3.52.

Plaza Centres lost 1.9 per cent to €1.67 as investors reacted to the fact that the equity commenced trading without the right to receive a net final dividend of €0.073.

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.