Financial news

The MSE Index lost 0.7 per cent during the end of week session at the Malta Stock Exchange, closing off at 4,631 points. Yesterday's trading session consisted of 40 equity deals carrying 72,638 shares with a total traded value of just over €154,606.

MaltaPost outperformed the rest of the market with yet another positive outing as the equity traded with a premium of 3c5 or 4.7 per cent over its previous price, thereby closing at €0.78c5. During the session a total of 12,300 shares swapped handed across 11 trades. Investors are awaiting the company's interim results for the period October 2007 to March 2008 in two weeks time.

GlobalCapital recouped a fraction of its value after it had lost 43.7 per cent earlier this week as the Group reported a 95.2 per cent drop in pre-tax profits for last year. The day's trades consisted of a mere 329 shares transacted across 2 deals, which saw the price gain three cents or 1 per cent over its previous trading level.

FIMBank was the most actively traded equity in terms of volumes as the trade finance specialist registered the exchange of 35,867 shares exchanged across three deals. Trading activity saw the equity inching marginally higher as the equity gained 0.26 per cent to close the session at $1.91,5.

HSBC Bank Malta traded marginally higher on a low volume of 1,186 shares over three trades to close at the €4.41,5-level which equates to a gain of 0.1 per cent.

On the other hand, Bank of Valletta suffered a loss of 8c after a volatile session. The equity closed at a day low of €5.45, after trading at an intraday high of €5.54.

International Hotel Investments shares gave up some of their recent gains as the hotel company dropped 2.64 per cent, thereby posting in the day's worst performance. The equity terminated the session at €1.07c.

Trades in Malta International Airport to the tune of 1,370 shares where exchanged at a discount of 0.6 per cent, thereby closing at €3.33. A small retail trade of 100 shares in Lombard Bank left the price unchanged at €13.

Weekly local equity market review

Weakness in financial services providers dragged the MSE Index lower by 1.3 per cent to close yesterday's session at the 4,631-point-level.

MaltaPost was the week's top gainer as the equity gained by 7.5 per cent.

Grand Harbour Marina continued its positive performance, moving higher by a further 7.1 per cent to close at €2.25.

GlobalCapital was the week's biggest loser, shedding 43.1 per cent to close at €2.93.

A 4.2 per cent drop in Bank of Valletta proved to be the main drag on the index with an aggregate total of 106,485 shares changing hands during the week. HSBC Bank Malta lost 0.1 per cent on a total turnover of 29,460 shares.

Middlesea Insurance shed 0.2 per cent, falling to €3.51,4 while FIMBank gained 0.8 per cent.

6pm Holdings increased by 1.4 per cent to £0.73 pence, while Plaza Centres jumped 1.8 per cent to €1.70c as 64,100 shares were swapped in a single deal.

International Hotel Investments gained 1.9 per cent to €1.07 following the company's publication of its full year results. The directors are also proposing the allotment of three bonus shares for every 100 held.

Otherwise Go traded practically flat throughout the week, while Malta International Airport terminated softer by 0.6 per cent at €3.33. Crimsonwing, Datatrak Holdings and Lombard Bank Malta all terminated the week at the same level where they commenced it.

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.