Financial news

The Malta Stock Exchange managed to keep a perfect score as it closed its final session of the week in positive territory. Gains in HSBC Bank Malta and Lombard Bank Malta made up for a drop in Bank of Valletta to see the Index higher by 0.2 per cent, at 3,938 points.

Bank of Valletta ceased its four-day winning streak as the banking equity shed 2c1 on the exchange of 5,769 shares spread across seven deals. The equity started trading at a high of €4.72, with subsequent retail selling activity pushing the price lower to close at €4.69c9.

Shares of Crimsonwing opened the session on the upside after Thursday's close which saw the company's share price back at the IPO starting blocks. Trading activity heaved the price by 1c or the equivalent of two per cent to terminate the session at €0.51.

Meanwhile, HSBC Bank Malta managed to build on its recent gains as the largest company, in terms of market capitalisation, inched 2c higher or 0.6 per cent for a closing price of €3.28. Trading activity was spread over 9,150 shares and executed across seven deals.

Seven deals were also registered in Lombard Bank Malta, but with a higher volume of 20,222 shares. The banking equity clinched the highest percentage gain on the day, with an up move of 2.7 per cent, to see the session off at €3.05.

Trading activity in Go failed to steer any moves in the equity's share price, as the 6,600 shares traded were executed at an unchanged price of €2.30. At the end of the session there stood 3,500 shares best bid at €2.25 and 1,350 shares offered at €2.30.

Trading activity in the fixed income sector of the market was spread across two corporate issues and nine government stocks. Institutional investing in Malta government stocks was visible during the last trading session of the week, with five out of the nine issues attracting single deals with volumes of over 600,000 nominal.

Weekly MSE Equity report

Local equities registered the best week in months as buyers returned to the market, collecting shares in a variety of companies particularly in the heavy weight banking sector which has been relentlessly sold for the past few months. Bank of Valletta was the week's best performer gaining 9.3 per cent as 55,772 shares were purchased across an aggregate 56 transactions. With this rise, Bank of Valletta reclaimed the second largest equity title, which was briefly held by International Hotel Investments.

HSBC Bank Malta gained 5.8 per cent on the turnover of 57,157 shares. Lombard Bank Malta saw 60,588 shares changing hands across 16 transactions up to €3.05.

FIMBank attracted a turnover of 265,600 shares, swapped across nine transactions. The equity closed yesterday's session at $1.909, a decline of 2.5 per cent as investors priced in the fact that the equity commenced trading ex-dividend halfway through the week.

Go gained 4.6 per cent to reclaim the €2.30 level, while Maltapost gained 2.7 per cent as 2,000 shares were exchanged at the €0.77. Single deals in Datatrak Holdings and Medserv left their previous closing prices unchanged at €0.29 and €3.997 respectively. Late week buying activity in Crimsonwing did not stop the equity from shedding 1.7 per cent, while Malta International Airport lost a further 1.6 per cent to close at €2.95.

International Hotel Investments and RS2 Software did not witness any movement in their prices, concluding yesterday's session at €1.05 and €0.829, 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.