Financial news

The MSE Index lost 0.2 per cent to close 4,358 points during the end of week trading session at the Malta Stock Exchange. This was the result of losses in three of the Index components, with Lombard Bank Malta having the largest negative percentage change for the day.

In fact, two trades in Lombard Bank Malta totalling 5,800 shares, pushed the price down to the €3.127 level. This is the lowest level for the equity since the start of the year, and equates to a 10c8 or 3.3 per cent drop from the previous closing price.

A sole trade of 500 shares in Simonds Farsons Cisk struck at €2.70 caused a decline of 3c or 1.1 per cent in the share price. At the end of the session, outstanding demand for 4,400 shares at €2.61 stood against an unsatisfied supply of 1,646 shares offered at €2.70.

Trading in HSBC Bank Malta started at the opening bell, with the price going a tick higher only to lose ground again throughout the session. The equity closed the session at the €3.94 level, which equates to a 1c or 0.25 per cent drop from its previous reading.

Bank of Valletta started trading late into the session, moving higher by a single cent.

However, subsequent trades pulled the price back to close unchanged at €4.95.

The day's turnover consisted of a total of 15,962 shares, carrying a market consideration of €79,019, which changed hands across 12 trades.

Activity in FIMBank consisted of 1,000 shares which were swapped between two investors, leaving the price unchanged at $1.88.

Weekly MSE equity report

During the past five sessions, local equities had their second most dismal weekly performance since mid-June last year, with the MSE Index shedding as much as 98 points to terminate yesterday at 4,358 points. Banking sector stocks were the main drag on the Index throughout the week. HSBC Bank Malta shed 4.6 per cent, Bank of Valletta lost 2.0 per cent while Lombard Bank Malta declined 3.5 per cent.

International Hotel Investments, gained 1.4 per cent on the back of an upbeat Interim Directors' Statement.

Grand Harbour Marina was the week's top loser, shedding 10.9 per cent, falling back to €2.05 as the equity traded for the first time without the attached rights to receive a final net dividend of 20c per share. Low volume activity in GlobalCapital brought a 5.5 per cent drop in price terminating at €3 while similarly on low turnover, Simonds Farsons Cisk shed 1.1 per cent to close at €2.70.

Selling activity inflicted a 6.3 per cent drop in Maltapost's price which was brought down to the €0.75 level, whilst Go suffered a further set back as sellers pushed the price back to €2.90.

Elsewhere, Crimsonwing gave up two per cent to €0.54 while no change was registered in the weekly price of FIMBank and Malta International Airport which closed respectively at $1.88 and €3.35.

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.