Financial news

During yesterday's session at the Malta Stock Exchange, activity was spread over six equities with a total of 44 trades. The MSE Index slid half a percentage point to close at 3,471 points with four components being the main drag on the Index and trading at the lowest levels for this year. On the other hand, these losses were cushioned by gains in the oldest listed equity.

Buying interest for Bank of Valletta shares entered the market during yesterday's session, which resulted in the price closing at €3.60 on a volume of 2,760 shares. This represents a 10c gain equivalent to a rise of 2.86 per cent.

On the other hand, Go suffered the largest percentage drop of 5.26 per cent with a turnover of 10,270 shares dealt over 14 trades, to end the day at the €2 level.

FIMBank's share price shed 3.55 per cent when 15,000 shares dealt over three trades pushing the price down to close at $1.63.

All transactions in Lombard Bank Malta were executed at €2.97 which represents a 2.62 per cent drop on a turnover of 9,290 shares.

Selling pressure in International Hotel Investments to the tune of 12,920 shares also reduced the trading price to €0.98 which equates to a discount of 1.51 per cent over its previous price.

HSBC Bank Malta was the most active and liquid listing with a total turnover of 23,852 shares transacted across 17 deals which left the price unchanged at €2.90.

In the fixed interest sector of the market, activity was spread across 10 corporate bonds and nine government stocks. The 4.8 per cent MGS 2016 (II) attracted the highest turnover, with 500,000 nominal while registering a price decrease to close at €101.10. The highest increase was seen in the latest listing in the corporate bond market, the 5.9 per cent HSBC Bank Malta 2018 where 3,700 nominal were swapped over a sole transaction, pushing the price up from par to close at €102.

MSE weekly report

With international markets shedding almost 20 percent of their value in a single week, the MSE Index posted a relative outperformance as it dropped 4.6 per cent to close yesterday's session at 3,471 points.

Similarly to the international scene, local banking securities remained in focus. HSBC Bank Malta shed 3.3 per cent during the week, to terminate at €2.90.

Bank of Valletta shares shed 8.8 per cent to €3.60 during the past five sessions.

FIMBank was this week's worst performer, as it traded lower by 11.4 per cent, whilst Lombard Bank Malta moved lower by a single percentage point to close Friday's session at €2.97.

Santumas Shareholding, the closed ended collective investment scheme was this week's best performer, moving higher by 13.2 per cent on very light volumes as it closed at all time high of €3.

Go lost 9.1 per cent of its value in a single week to terminate at €2, its lowest level in more than five years.

Single trades for 1,000 shares each were executed in GlobalCapital, as the price dropped 9.5% to €1.991, Middlesea Insurance and Plaza Centres which closed practically flat at €2.949 and €1.75 respectively.

International Hotel Investments shed 3.3 as it closed €0.98. Elsewhere, Malta International Airport shed 3.3 per cent to close at a multi year low of €2.90, while selling activity in Maltapost brought a 2.8 per cent decline in the postal incumbent's price which closed the week at €0.82.

Otherwise, trades executed in Crimsonwing and Grand Harbour Marina failed to move their week-on-week price of €0.50 and €2.20 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.