Financial news

The Malta Stock Exchange Index advanced marginally, kept in near balance by gains in Go and International Hotel Investments after some further weakness in financials. The Index ended the week at 3,519 points.

Go registered an increase of 2.4 per cent over its previous closing price, pushed higher on buying activity for a totalof 6,480 shares across three deals, to close at €2.10.

Demand for International Hotel Investments also caused an increase in price. Turnover here consisted of 12,500 shares traded over four transactions ending the day at €0.98, equivalent to a gain of 1c or one per cent.

Shares in FIMBank succumbed to further selling pressure as the price ended the session at its lowest level registered this year. Trading consisted of four trades for 8,550 shares with a decrease of 1.8 per cent in price to $1.60 level.

Middlesea Insurance closed lower by 1.8 per cent as 1,590 shares were swapped at €2.75, while 2,525 shares of Lombard Bank Malta changed hands at the €2.949 level, which represents a 0.05 per cent discount over its previous closing price.

All deals in Bank of Valletta were executed at €3.70, with turnover consisting of 4,930 shares spread across six deals.

The most active and liquid equity trading during the session was HSBC Bank Malta, with a grand total of 14,396 shares dealt over 15 transactions, The largest listed equity by market capitalisation traded lower during the session, only to recoup the lost ground and close unchanged at €3. In the fixed interest sector of the market, activity was spread across a corporate bond and three government stocks. The 7.8 per cent MGS 2012 attracted the highest turnover, with 10,600 nominal and closing higher by €0.03 to €112.11. The largest decrease in price was registered in the 5.1 per cent MGS 2022 where 4,659 nominal were swapped over a sole transaction, pushing the price down to close at €100.57.

MSE weekly trading report

Following yesterday's session at the Malta Stock Exchange, the MSE Index registered a weekly gain of 1.38 per cent on total equity turnover amounting to €878,395, spread over 201 deals and 14 equities.

Bank of Valletta was the most actively traded equity with a total of 74 deals being struck, in which 79,828 shares changed hands. The shares ended the week up by 2.78 per cent at the €3.70 level.

Similarly, HSBC Bank Malta's share price moved ahead by 3.45 per cent to €3.00, when a total of 75,932 shares were transacted over 61 deals. Simonds Farsons Cisk was another gainer, ending the week higher by 1.15 per cent on turnover of 1,500 shares.

On a negative note, Middlesea Insurance was this week's worst performer as the equity shed 6.75 per cent on a relatively low volume of 2,000 shares. The equity closed the week in the €2.75 level. Malta International Airport also witnessed a substantial drop in its share price when six deals for a total of 6,300 shares pushed the price lower by 5.17 per cent to €2.75.

Having last traded on September 23, RS2 Software this week lost 2.19 per cent on a total turnover of 30,000 shares, ending the week at the €0.803 level. Likewise, FIMBank lost 1.84 per cent as 8,550 shares were exchanged over four deals.

Elsewhere, Lombard Bank and its subsidiary Maltapost, together with Crimsonwing, all ended the week in the red, closing at €2.949, €0.818 and €0.498 respectively.

Grand Harbour Marina issued its interim directors' statement covering the third quarter ending September 30. The company said that it had concluded the long term licence of another 30-metre berth and also enjoyed high transient occupancy on the superyacht berths. Hence, the financial performance of the company during the first nine months continued to exceed that of the same period last year. In the meantime, its share price ended the week lower by the slightest of margins at €2.199.

Finally, International Hotel Investments and Santumas Shareholdings ended the week unchanged at €0.98 and €3, 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.