Financial news

Following a rather muted session on the Malta Stock Exchange on Friday, the MSE Index dropped slightly to close at 3,832, a reduction of 0.139 per cent form its previous daily reading.

Emerging from a period of inactivity after registering its last trade on the 17th of July this year, Simonds Farsons Cisk traded during Friday's session, detaching itself from the €2.83 price level, which was the highest price for the year. The equity dropped by 19c8 to the lowest trade range permissible for the day to close at €2.63c2. Turnover here consisted of 5,000 shares dealt across 6 trades, leaving unsatisfied demand of 5,000 shares at €2.60 countered by offers of 3,117 at €2.63c2.

FIMBank closed lower by six tenths of a US cent, which equates to a decline of 0.32 per cent over its previous closing price, with both trades amounting to 104,400 shares, closing at $1.89c8. Bank of Valletta was the most active equity throughout the session, with 16 deals for a turnover of 15,001 shares. The banking equity opened lower as it traded at an intraday low of €4.27c5 only to recoup this drop later in the session and close 1 c or 0.23 per cent higher to end at €4.31.

HSBC Bank Malta closed unchanged, with the price trading at the €3.26 level. Meanwhile, activity in MaltaPost of 4,073 shares failed to steer any moves, as the equity closed unaltered at €0.82. In the fixed interest sector of the market, activity was spread across eight corporate bonds and four government stocks. The 6.20 per cent - 6.80 per cent International Hotel Investments 2013 attracted the highest turnover, with 82,200 nominal while trading unchanged at €100.50. An increase was observed in the 7 per cent Pavi Shopping Complex 2014/17 when a mere 2,330 nominal were swapped over a single transaction, pushing the price higher by 6.67 per cent to close at €96.

MSE weekly report

Gains in Bank of Valletta shares were the motor behind the 0.9 per cent weekly gain on the MSE Index which recovered a further 36 points to terminate Friday's session at 3,832 points.

Bank of Valletta continued to recuperate from the previous week's decline, as the equity rose by 12c9 to terminate Friday's session at €4.31.

HSBC Bank Malta also enjoyed a positive week and gained 1.9 per cent as helping the price close at €3.26. However, Lombard Bank Malta and FIMBank closed the week slightly in negative territory, shedding 0.3 per cent to €3.049 and $1.898, respectively.

MaltaPost was the week's top gainer with the equity moving higher by 3.8 per cent to €0. On the contrary, GlobalCapital shed almost 10 per cent as 1,000 shares were sold down to €2.20. Interest in International Hotel Investments, pushed the equity up by 2.5 per cent to reclaim the €1.04 level. Elsewhere Grand Harbour Marina moved higher by 2.4 per cent on the purchase of 1,500 shares at €2.15.

GO shed 4.7 per cent as the price dropped to €2.201, while Simonds Farsons Cisk shed 7 percentage points in a single session. Elsewhere, RS2 Software lost a full percentage point to terminate at €0.821 while Malta International Airport registered a slim negative variance, ending the week at €2.999. Both Crimsonwing and Middlesea Insurance registered no week-on-week movement in price.

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.