Financial news

In a rather bland end-of-week session at the Malta Stock Exchange, the MSE index slid 0.3 per cent to close at 3,317 points. The largest market component was the main drag on this reading following a day of supply pressure. Activity was spread over five equities with an aggregate value of €101,745 reached over 27 deals.

HSBC Bank Malta was the day's most liquid and actively traded equity with a grand total of 28,152 shares changing hands across 19 transactions. Trading started around mid-session and continued up to some minutes before the closing bell, where it ended the day at the €2.89 level, which translates into a drop of 2c8 or just under one per cent over its previous closing price.

A sole trade with a relatively low volume of 2,309 shares in Maltapost helped the equity rise by 1c1, thereby closing at €0.76 or 1.5 per cent higher. At the end of the session, outstanding bids amounting to 4,602 stood at the higher price of €0.77, countered by a sell order for 2,089 shares offered at €0.789.

Interest in Lombard Bank Malta pushed the price marginally higher by 0.1 per cent to close at €2.95. Turnover here consisted of 2,699 shares and was spread over two deals.

Go traded in unchanged territory, with the price trading at the €1.90 level for a volume of 3,000 shares. Meanwhile, activity in Bank of Valletta of 1,316 shares failed to steer any moves, as the price closed unaltered at €3.62.

In the fixed interest sector of the market, activity was spread across eight corporate bonds and three government stocks. The 6.7% Mizzi Organisation Finance 2009/12 attracted the highest turnover, with 60,000 nominal, pushing the price higher to €101. The highest percentage increase in the local bond market was registered in the 5.5% MGS 2023 as 16,306 nominal were swapped at a price of €111.70 therefore trading higher by 449 ticks.

Weekly MSE equity report

Equities on the Malta Stock Exchange closed lower for the fifth week in six, although the decline across the five-day period was just 0.6 per cent which brought the MSE index down to close at 3,317 points yesterday.

Datatrak Holdings was the week's worst performer as a single low volume deal chopped 35 per cent of its value, forcing the price to close at €0.201, its lowest level ever.

HSBC Bank Malta was the week's most liquid equity with an aggregate of 60,221 shares changing hands over the week. The equity closed a full percentage point lower at €2.89.

Bank of Valletta was the week's most active equity with 42 trades seeing the transaction of 36,715 shares. The equity closed the week 0.6 per cent higher at €3.62.

Elsewhere in the banking sector, FIMBank shed 0.4 per cent to $1.394 while Lombard Bank Malta reclaimed the €2.95 level as 2,699 shares were traded yesterday.

Grand Harbour Marina gained 2.8 per cent to €1.85 on low volume. Similarly, Maltapost registered a positive week, moving higher by 1.3 per cent on the transaction of 22,398 shares.

Middlesea Insurance dropped to yet another multi-year low as the equity shed 5.5 per cent, closing the week at €2.55.

International Hotel Investments lost 1.1 per cent, while Go gained slightly to €1.90.

Weakness in Malta International Airport saw the equity drop to €2.24 on the trading of 13,900 shares while RS2 Software traded steady at €0.75 on a total turnover of 30,000 shares.

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.