Finanical news

During a relatively quiet end of week session at the Malta Stock Exchange, the MSE Index continued its decline, falling by 0.188 per cent to close at 4,158 points. Five equities were active throughout the session with a total of 22 equity deals, half of which were struck in the local quadruple play operator which declined by 3.77 per cent over this activity.

In fact, Go was the day's only laggard with the share trading a full 9c8 lower than its previous level. Activity started at mid-session, opening immediately lower at €2.54 with selling pressures continuing to add to the decline, with the share price closing at €2.50, its lowest level for the year.

After an absence since mid-last week, FIMBank's turnover was made up of 8,300 shares which were exchanged across two deals, ending the day at $1.869, representing a gain of 0.48 per cent from its previous closing price.

Trading in HSBC Bank Malta opened marginally lower than the previous level at €3.799, only to recoup this decline and later close higher by 1c to €3.81. Turnover here consisted of 2,000 shares executed over four transactions.

Maltapost traded unchanged at the €0.80 level as 5,000 shares were dealt across two deals. At the end of the session 6,500 shares stood as best demand at the €0.77 level against supply for 2,088 shares best offered at €0.80. Similarly all deals struck in Bank of Valletta were executed without altering its previous closing price of €4.67.

After the close of trading, Malta International Airport published its interim financial statements for the period ending 30th June this year. These showed a 26 per cent growth in its bottom line figure, coming in at €3.3 million. The directors have approved a net interim dividend of €0.06 being paid to registered shareholders as at July 31.

Weekly MSE equity report

The MSE Index closed the week lower by 0.1 per cent at 4,158 points, chalking up its 13th week-on-week decline in the past 15 weeks.

Go was this week's weakest performer, with the quadruple play telecommunications provider shedding 3.8 per cent..

Grand Harbour Marina on the contrary was the week's top gainer with the equity gaining as much as 4.6 per cent to close the week at the €2.25 level.

In the financial services sector, Bank of Valletta moved higher by 1.5 per cent closing the week at the €4.67 level. Contrary to that, HSBC Bank Malta shed 0.3 per cent to €3.81, while Lombard Bank Malta traded unchanged at €2.90. FIMBank, the trade finance specialist moved higher by 0.5 per cent reclaiming the $1.869 level.

Simonds Farsons Cisk saw a 1.1 per cent gain in its price to close at €2.83. Crimsonwing postponed until July 29, the publication of its full year results for the period ending March 31, however the market reacted positively to the news pushing the price up by almost two per cent to reclaim the €0.53 level. Elsewhere, Malta International Airport's share price dropped by 1.9 per cent to close at €3.061, while International Hotel Investments registered minimal declines to close the week at €1.049. Finally, Maltapost attracted the highest turnover of shares without altering its week-on-week price of €0.80.

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.