Following the most subdued session for the past week, the Malta Stock Exchange Index declined by 0.1 per cent over the previous day to close at 3,336 points. The only trades for the session were registered in the two larger banks, with a mere number of nine deals being executed, for an aggregate value of €20,216.
HSBC Bank Malta was the day's most active and liquid equity when 6,800 shares were transacted across eight deals. All deals were transacted at the last trading level of €2.92 therefore leaving the price unaltered. At the end of the session, outstanding bids amounted to 68 shares at €2.91, countered by a sell order for 800 shares at €2.92.
Activity in Bank of Valletta consisted of a single trade for 100 shares executed in the dying minutes of the session at €3.60, which represents a decrease of 2c or 0.55 per cent over its previous level.
In a company announcement, the directors of Datatrak Holdings confirmed the restructuring exercise to address its strategy of geographical market diversification. This should mitigate exchange rate risk and possibly dilute the effects of the current international economic situation. The board has also approved the change of the financial year which is now to run from January this year to June next year, and subsequently from July to June every year thereafter.
In the fixed interest sector of the market, activity was spread across seven corporate bonds and one government stock. The 7.5 per cent Mediterranean Investments Holding 2012/14 attracted the highest turnover, with 31,800 nominal, leaving the price unchanged at €101.80. The highest percentage increase in the local bond market was registered in the fungible October issue of the 5.1 per cent MGS 2014 (III) as 5,000 nominal were swapped at a price of €106.41 therefore trading up by 0.72 per cent.
Weekly MSE equity report
Volume activity during the past five sessions at the Malta Stock Exchange, was relatively soft with the Index closing lower by just 0.2 per cent as investors preferred to hold onto cash positions given all the financial turmoil in international markets.
Banking sector equities all closed yesterday's session without any week-on-week change in price. HSBC Bank Malta, which terminated at €2.92, was the most liquid with 36,822 shares changing hands. Bank of Valletta ended at €3.60 and was the week's most active with 30 trades seeing the transaction of 24,910 shares.
The week's turnover in FIMBank amounted to 22,500 shares which did not alter their previous week's closing price of $1.40. Similarly, two trades for a total of 1,673 shares in Lombard Bank Malta did not change its €2.948 price level.
Malta International Airport closed the week lower by 3.4 per cent at €2.25, a multi-year low, on the transaction of a single trade for 800 shares.
Datatrak Holdings was this week's top performer gaining 3.3 per cent to reclaim the €0.31 level.
International Hotel Investments failed to trade during the week, while a mere 100 shares were transacted in Go, registering a marginal drop of 0.05 per cent.
Grand Harbour Marina suffered the biggest decline, shedding 5.3 per cent as an aggregate 7,000 shares were exchanged at the €1.80 level. Elsewhere, RS2 software consolidated at €0.75.
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.