Financial news

During the final session of the week, the major equities traded sideways with buyers and sellers striking trades at and close to their previous closing levels. As a result the MSE Index barely registered a move, closing the week at 3,341 points.

HSBC Bank Malta reclaimed the most liquid equity title, although the day's activity consisted of just 11,285 shares which were nonetheless exchanged across seven transactions. The equity closed marginally lower at the €2.92 level. In their interim director's statement, the bank commented that despite the challenging global and local market conditions, core income and profitability levels remained satisfactory during the third quarter of the year, with both customers' deposits and customers' loans increasing in line with expectations.

Bank of Valletta moved higher by the slimmest of margins as 2,054 shares were swapped across seven transactions, thereby helping the price to close yesterday at €3.60.

Grand Harbour Marina was the day's biggest loser, as the equity lost 10c or five per cent of its value as 6,370 shares were dealt across four transactions. This activity brought the price of the marina operator down to €1.90, its lowest level since April. Interest in Go, the quadruple telecommunications provider, increased slightly relative to the previous sessions, however, remained relatively low with just 4,500 shares changing hands across three transactions. Activity was driven by buyers who collected shares from the offer side at the €1.90 level. At the end of the session, a further offer of 1,042 shares remained outstanding at this level.

Elsewhere in the market, a single trade in Malta International Airport saw two investors swap 1,300 shares at the €2.329 level.

In the fixed interest sector of the market, activity was spread across four corporate bonds and three government stocks. The 4.60 per cent HSBC Bank Malta 2017 gained 200 ticks as 10,895 nominal were purchased up to the €99 level, while the 6.15 per cent Bank of Valletta 2010 moved higher by 23c to reclaim the 101.33 per cent of par.

Weekly MSE equity report

The MSE Index moved sideways throughout the week, as gains in the two largest banks were offset by sharper declines elsewhere in the market.

The week's best performer was Bank of Valletta which gained almost two percentage points to reclaim the €3.60 level.

HSBC Bank Malta yesterday commented that despite the challenging global and local market conditions, core income and profitability levels remained satisfactory during the third quarter of the year. The equity gained 0.8 per cent throughout the week to close at €2.92.

FIMBank was the week's most liquid equity, as a grand total of 181,240 shares were exchanged across 18 transactions, with the price falling by 3.5 per cent to close at $1.40.

Malta International Airport dropped sharply on low volume as an aggregate total of 2,300 shares pushed down the price to the €2.329 level, which represents a 6.8 per cent discount to the previous week's closing price.

Grand Harbour Marina was the week's biggest decliner with the equity losing 9.2 per cent, squeezing the price down to €1.90.

Maltapost shed five per cent during the week, as an aggregate 33,822 shares were sold down to €0.75, while all 7,800 shares struck in Go across eight transactions were all executed at the €1.90 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.