Financial news

The end of week session at the Malta Stock Exchange was characterised by a wide trading activity, spread across nine equities for a total of 35 deals. Buying interest in the Malta Stock Exchange largest components - HSBC Bank Malta and Bank of Valletta, saw the Index close at 4,134 points.

HSBC Bank Malta outperformed the rest of the market with the equity commencing trading at the previous day's closing price of €3.55. Momentum picked up during the session, with the equity ending the day at €3.62, a premium of 7c or 1.97 per cent over its opening level. A total of 10,000 shares were swapped during the session across 13 trades.

Building on its previous session's gains, Bank of Valletta continued its positive streak, increasing a further 1c on relatively low volumes of 2,504 shares over six transactions, which saw the price close at €4.91

Maltapost was the day's other gainer, with 9,000 shares changing hands at €0.815, representing a marginal increase in price. At the end of the session, the best outstanding demand was for 6,000 shares at the closing price against an unsatisfied supply of 10,022 shares offered at €0.82.

A sole trade of just 250 shares in Lombard Bank saw the price drop back to the €3 level thereby registering a 2.25 per cent decline on its previous close. Grand Harbour Marina traded lower by a mere 0c1 when two investors swapped 3,000 shares at €2.049.

The largest equity turnover of the day was recorded in FIMBank when 149,222 shares spread over six deals saw the company trade lower by 0c5, only to recover this loss to close unchanged at $1.88.

Early trading activity in International Hotel Investments left the price unaltered at €1.02 with a total turnover of 20,000 shares.

Go and Simonds Farsons Cisk were among the non-movers, leaving their previous market prices at €2.65 and €2.72, respectively.

Weekly MSE equity report

Crimsonwing was the week's top gainer moving higher by six per cent to €0.53 following last week's €1.9 million acquisition of administrative software development company VDA Informatiebeheersing BV, based in the Netherlands.

Bank of Valletta continued to pull higher as the equity was the most actively traded with 76 transactions overseeing the exchange of 69,413 shares, to close yesterday's session at €4.91.

HSBC Bank Malta had a particularly volatile week but nevertheless managed to close higher by 0.6 per cent at €3.62. HSBC are expected to report their interim financial report and dividend in about five weeks' time.

FIMBank was the week's most liquid equity with a grand total of 180,516 shares being exchanged across 12 transactions. The trade-finance specialist closed weaker by 0.5 percent at $1.88.

Elsewhere, Lombard Bank Malta lost 2.3 per cent of its value on relatively low volumes, as 1,250 shares were swapped across two transactions squeezing the price back down to the €3.00 level.

Shares of International Hotel Investments were dragged lower on the exchange of 37,145 shares that were sold across 12 transactions pulling the price lower by 3.8 per cent down to €1.02, its lowest closing level since mid-March.

Renewed interest in Maltapost saw investors pushing the price higher by 1.9 per cent to €0.815.

Similarly, Simonds Farsons Cisk gained 0.4 per cent to terminate the week at €2.72, while a single transaction in Medserv saw an investor dispose of 2,000 shares at the €3.99 level.

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.