Financial news

Trading activity on the Malta Stock Exchange was once again lacking on the last trading session of the week, as investors went into an early Christmas mode. Nonetheless, the MSE Index managed a 0.34 per cent gain to terminate at 3313.34 points.

FIMBank shares were the main catalysts for the Index's positive outing, as the dollar denominated equity was the only gainer on the day. The trade finance specialist rose nine dollar cents or 6.92 per cent to close at $1.39. Nonetheless trading was restricted to a couple of deals for an aggregate of 6,709 shares. At the end of the session there were 47,357 shares on offer at the closing price against a mere 500 shares best bid at $1.20.

Bank of Valletta shares dropped by the slimmest of margins possible, as the banking equity shed one tenth of a cent to close at €3.59. Activity was spread over 10 deals carrying a total of 4,742 shares. Unsatisfied demand and supply at the session's close stood on a tight range with best bids at €3.58 and best offers at €3.59,5. GO shares had a similar fate as the quadruple telecommunications player suffered a loss of five tenths of a cent on the exchange of 3,650 shares dealt across two deals.

The equity closed the session at €1.895, one tenth of a cent shy of its intraday low.

HSBC Bank Malta shares opened the session with a two cents gain over yesterday's closing price. Subsequent intraday activity pushed the price to a session low of €2.84. Nevertheless, the equity recouped its losses and closed unchanged at €2.85. In the fixed interest sector of the market, activity was spread across three corporate bonds and four government stocks. The 5.75 per cent MGS 2010 was the top gainer as it rose by 1.3 per cent to 104. The highest turnover for the session was registered in the five per cent MGS 2021 as a volume of 72,000 nominal was dealt across three deals. Corporate sector deals were relatively subdued with no significant moves.

Weekly MSE equity report

Buckling from the previous month's trend, the Malta Stock Exchange closed higher by a slight margin of 0.16 per cent. In fact the MSE Index closed yesterday at 3,313 points.

Malta International Airport was by far the week's highest gainer, as the price rose by 11.61 per cent to end the week at €2.50.

Grand Harbour Marina also had a good week when it rose 7.03 per cent over a single transaction on Thursday to close at €1.98.

Activity in FIMBank saw the trade finance specialist recoup all of the previous week losses and also close higher by 6.92 per cent to $1.39. A single trade on Wednesday in Lombard Bank Malta shares pushed the price up by 1.69 per cent.

HSBC Bank Malta was the most liquid equity, where selling pressure decreased the price by 1.69 per cent over the past week to close at €2.85.

Bank of Valletta suffered a similar fate as 17,837 shares were swapped across 29 deals resulting in a discounted price of €3.59.

Turnover in Go shares was comparatively low as 3,650 shares changed ownership at €1.895 thereby dropping by 0.26 per cent.

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.