Financial news

The final day of trading for the week at the Malta Stock Exchange resulted in a further 0.1 per cent decline to the Index which terminated the session at 2,776 points. Seven components were active in the equity market with low volume trading spread over a total of 15 deals.

HSBC Bank Malta was the day's only gainer as the equity recouped its previous session's 1c decline to close at €2.21. Activity in the financial services company's equity was spread over four deals and a market consideration of €9,371. At the end of the session 1,200 shares remained outstanding on the bid side at €2.15, while 5,730 shares were best offered at €2.21.

Bank of Valletta was, relatively, the most liquid equity for the day with 5,000 shares changing hands across four deals. The bank registered a further decline of 2c which equates to a 0.8 per cent decay to close at €2.20.

Medserv commenced trading for the year as two investors swapped a mere 500 shares at the €3.69 level which represents a 30c7 or 7.7 per cent discount to its previous traded price. The oil services company which registered a pre-tax profit of €684,166 for the interim period ending June 2008 was the day's worst performer.

Go was also active during the day as the listing traded a total of 4,375 shares over four deals. The quadruple play communications company was a non-mover for the day with the price closing unchanged at €1.50.

Plaza Centres announced that its board of directors is scheduled to meet on Tuesday to consider the approval of the financial statements for the financial year ended December 31, 2008. Activity in the operator of commercial retail leases in the heart of Sliema consisted of 2,210 shares exchanged over one deal with no change in price to close at €1.70.

Similarly, MaltaPost and RS2 Software were also non-movers for the session, both ending at the €0.75 level.

Weekly MSE equity report

Equities continued to slide on selling pressure, forcing the Malta Stock Exchange Index to a weekly decline of 0.5 per cent to close yesterday at 2,776 points.

Lombard Bank Malta was the week's sole gainer with demand for 15,700 shares pushing the price higher by 2.5 per cent to reclaim the €2.52 level.

Elsewhere in the banking sector, HSBC Bank Malta depreciated by a further 1.3 per cent to €2.21 on the transaction of 31,440 shares.

Bank of Valletta saw 101,577 shares swapped over a total of 63 deals, with sellers forcing the price lower by 2.2 per cent to end the week at the €2.20 level. Medserv and Middlesea Insurance incurred the most notable declines as they shed 7.7 per cent and 4.9 per cent respectively to close correspondingly at €3.69 and €2.45.

International Hotel Investments and Simonds Farsons Cisk were also active for the week albeit trading on low volume. Both equities declined further as the former shed 3.3 per cent to close at €0.83 and the latter ended 0.5 per cent lower at €1.89.

Malta International Airport and MaltaPost also saw their share price shrink by 3.3 per cent and 1.8 per cent to close at €2.37 and €0.745.

Plaza Centres and RS2 Software were the week's only non-movers sticking to their previous closing prices of €1.70 and €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.