Financial news

The Malta Stock Exchange Index terminated practically unchanged during the last session of the week, closing off at 4,195 points. Friday's muted trading session consisted of 20 equity deals carrying 23,221 shares with a total traded value of €53,138.

MaltaPost shares shed 3.61 per cent on the exchange of 9,638 shares across six deals.

The equity started trading early during the session seeing more than half of the day's deals being exchanged at €0.81 level, only to drop a further 1c towards the end of the session.

A single transaction in Lombard Bank Malta saw two investors swap 700 shares at €2.95 which equates to a 0.67 per cent drop over its previous closing price. On August 26 the company will announce its interim results for the period ending June 30, 2008.

Activity in HSBC Bank Malta started with trades being executed at €3.799, one tenth of a cent lower than Thursday's close, to eventually regain its previous price level as the closing bell approached. Total turnover here stood for 5,972 shares dealt over seven trades.

GO's share price closed unchanged when 5,500 shares were swapped over four trades at €2.50, cementing the telecommunication company's at this year's low. Bank of Valletta was the other non-mover with 1,411 shares being dealt across two deals at the price of €4.87.

In the fixed interest sector of the market, activity was spread across three corporate bonds and three government stocks with the five per cent MGS 2021 attracting the highest turnover with two million nominal being swapped over six transactions to close at €96.48, whilst the 5.9 per cent MGS 2015 (II) registered an increase of 0.81 per cent over a volume of 23,994 nominal.

Weekly local equity market review

Local equities returned to their losing ways after just two weeks of positive gains, on a mix of profit taking activity and low volume selling action. As a result the MSE Index dropped almost 76 points or 1.7 per cent to close yesterday at 4,197 points.

Go dropped a further 3.8 per cent as 19,440 shares were swapped across 13 trades.

HSBC Bank Malta declined 2.5 per cent to €3.80 on turnover of just 9,183 shares. Similarly Bank of Valletta shed 2.2 per cent to €4.87 on activity of 16,058 shares.

Lombard Bank Malta shed a full percentage point on 2,200 shares which were swapped down to the €2.97 level while the US denominated FIMBank rose 0.5 per cent to $1.89 on buying activity to the tune of 9,509 shares.

Crimsonwing and RS2 Software were the week's top gainers with investors purchasing the equities higher by 1.9 per cent in both cases. Crimsonwing, climbed back to €0.54, whilst the recently floated RS2 Software closed the week at €0.815.

Demand for Simonds Farsons

Cisk remained sustained with the price gaining a further 1.4 per cent to close at €2.76, its highest level in four years.

Elsewhere, International Hotel Investments retreated by 1.3 per cent to €1.05 and Malta International Airport gave back 0.3 per cent to close the week at €3.11.

Buying interest in Grand Harbour Marina pushed the price up to €2.05 while Plaza Centres gained 0.3 per cent to reclaim the €1.73 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.