Financial news

The Malta Stock Exchange closed off the last session of the week on a quiet note as thin volumes failed to give any particular impetus to the Index. The MSE terminated the session with a slight negative bias at 4,160 points.

Santumas Shareholding, the close ended investment scheme was, uncharacteristically, yesterday's top performer, clinching a 3.4 per cent gain or the equivalent of an 8c8 rise on the execution of a single trade carrying the amount of 4,400 shares. The gain was registered on the back of a company announcement informing that the sale of certain immovable properties had come to fruition for a net sale value of €3.1 million.

Meanwhile, Bank of Valletta shares gained 2c as the banking equity registered the largest number of deals on the day, carrying a relatively small aggregate amount of 4,053 shares. BOV shares closed the session at €4.62.

On the other hand, HSBC Bank Malta shed 2c to terminate the session at €3.80, as small number of retail investors sold off their positions prior to the announcement of the bank's interim results for the six months period ended June 30. The index heavyweight issued a relatively "disappointing" set of results after the closing bell with profit before tax reported at €46.6 million, a decline of €12.4 million, or 21.1 per cent, compared with a €59.0 million for the same period last year. Go climbed 1c higher on the execution of 3,650 shares spread across four deals to close at €2.51.

A sole trade struck in FIMBank shares pushed the dollar denominated equity half a cent higher to $1.875. Low volume activity in International Hotel Investments and Malta International Airport failed to alter the equities' previous closing prices as both equities closed unchanged at €1.06 and €3.121 respectively.

Weekly MSE equity report

The MSE Index closed the past five sessions practically flat at 4,157 points.

HSBC Bank Malta closed 0.3 per cent lower at €3.80. Following the Friday's closing bell the company announced pre tax profits of €46.6 million for the six months ended 30 June 2008, down 21.1 per cent from the same period in 2007.

Bank of Valletta shed 1.1 per cent to close at €4.62, while FIMBank bucked the trend gaining 0.3 per cent pushing the price up to the $1.875 level.

Grand Harbour Marina jumped 2 per cent to close at €2.29c5 following news of the government's intention to privatise the marinas in Msida, Ta' Xbiex and Mġarr. Malta International Airport gained 1.9 per cent to €3.12 as investors reacted to the company's interim result issued prior to the previous weekend which showed a 26 per cent increase in pre-tax profit reported at €3.3 million.

International Hotel Investments moved higher by 1.0 per cent to €1.06 while GO too closed the week on a positive footing gaining 0.4 per cent to €2.51.

Maltapost shareholders suffered a 3.7 per cent reduction with the equity dropping to €0.77 on two low volume transactions, while 6pm Holdings was the week's worse performer, shedding 6.7 per cent as two investors swapped 565 shares across a single transaction at the €0.70 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.