Financial news

Yesterday's trading session at the Malta Stock Exchange was characterised by subdued but wide spread trading activity, with the MSE Index remaining close to unchanged territory at 4,128 points. Activity was mixed with two equities closing in red, three equities inching higher and three non-movers.

The top performing equity on the day was Plaza Centres, when 1,800 shares were executed over two deals, thereby pushing the price higher by 1c5 or 0.88 per cent to close at €1.725.

Bank of Valletta, the oldest listed company on the local stock exchange, continued on its positive run during the last trading session of the week, as investors' demand pushed the price higher throughout the day, as the equity terminated the session at €4.739, thereby registering a 0.79 per cent gain.

Malta International Airport was the day's other gainer as the equity gained 0.32 per cent to close at €3.12 on the execution of a single trade of 1,000 shares.

Maltapost ended this week's positive streak by shedding 1.23 per cent to close at the €0.80 level. Turnover here consisted of 4,011 shares over two transactions.

Meanwhile, a sole trade in International Hotel Investments of 500 shares dragged the price lower by 1c or 0.93 per cent, pricing the Hotel Company at €1.06 per share.

Activity in FIMBank of 43,050 shares failed to steer any movement, as the dollar denominated equity closed unchanged at $1.889.

HSBC Bank Malta opened the session marginally lower at €3.597 to eventually regain the losses intraday. The index heavyweight managed to close unchanged at €3.60. Trades in Go also failed to alter the previous closing price of €2.65.

Weekly MSE equity report

Equities continued in their bearish trend during the past five sessions forcing the MSE Index to register its 10th consecutive week of negative performance.

Crimsonwing provided the main news of the week with the software solutions company announcing the acquisition for €1.9 million of administrative software development company VDA Informatiebeheersing BV, based in the Netherlands. Sly investors managed to purchase up to 6,500 shares of Crimsonwing without altering its €0.50 level.

HSBC Bank Malta was the main drag on the Index as the equity dropped heavily during the week, to close yesterday's session at €3.60, almost half its March 2006 value.

Bank of Valletta ended the week on a positive note, with the share price gaining 2.6 per cent.

Maltapost and Plaza Centres ended the week under review with a 2.6 per cent and a 1.47 per cent gain respectively.

FIMBank shares registered a total of 93,340 shares, with the price closing marginally lower at $1.889.

GlobalCapital saw its share price losing 1.8 per cent to close at €2.70. International Hotel Investments suffered the same fate on a meagre turnover of 780 shares which dragged the price lower to the €1.06 level, thus losing 1.1 per cent.

A single trade in Simonds Farsons Cisk accounted for a 0.7 per cent drop in the share price, while Grand Harbour Marina ended the week marginally lower at €2.049.

Elsewhere, Malta International Airport and Go closed unchanged at €3.12 and €2.65 respectively.

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.