Financial news

Trading for yesterday's session at the Malta Stock Exchange resulted in a positive result for the Index which rose by 0.13 per cent to close the session at the 3,018 level. Trading activity for the day was characterised with higher than usual volume of shares struck in one particular equity.

FIMBank was the day's most liquid and actively traded equity as mainly institutional clients swapped 2,244,766 shares, carrying a market consideration of $2.8 million, were exchanged across 14 deals. These transactions did not affect the previous closing level of $1.29.

Similarly, HSBC Bank Malta was also a non-mover for the day with all 5,000 shares exchanged during the session being struck at the €2.60 level. Following the close of the day's activity, the company issued its interim director's statement which warned that the bank's core retail business and profitability level were affected by the global downturn.

The day's trading activity for Bank of Valletta resulted in a negligible one-tenth of a cent drop in share price to bring the equity down to €2.399. Investors in the financial services company transacted an aggregate 3,885 shares over eight deals.

Malta International Airport was the day's best performer as the equity rose by 7c or 3.33 per cent to close at €2.17 as 2,047 shares were purchased across four transactions. At the end of the day 1,910 shares stood as best demand bidding at €2.001 while best supply was for 5,650 shares offered at €2.18.

Go too registered an increase in share price albeit rising by a mere 0c5 to terminate the session at €1.755. The quadruple play communication's company was active over a total of 12,000 shares and eight deals.

Low volume characterised the trading session of both Maltapost and Simonds Farsons Cisk. The former closed unchanged at €0.71 and the latter shed the slimmest of monetary values to close at €1.869.

In the fixed interest sector of the market, institutional activity was evident in both the 5.40% MGS 2010 and the 5.10% MGS 2014 where in excess of 10 million and 1.7 million respectively were exchanged at the corresponding prices of €102.52 and €106.93.

Weekly MSE equity report

Sustained buying interest in the largest local equities pushed up the MSE Index by a further 2.4 per cent to close the five-day trading period at the 3,018 level.

HSBC Bank Malta was the week's best performer, moving higher by four percentage points to close at the €2.60 level.

FIMBank was the week's most liquid security following the exchange of 2,245,916 shares, the lion's share of which were traded during the final session of the week. The equity terminated weaker by 0.8 per cent at $1.29.

Elsewhere in the banking sector, Bank of Valletta gained 1.9 per cent to move up to €2.399.

A single transaction in Crimsonwing for 3,000 shares dropped its price by a staggering 16.8 per cent to close at a new all-time low of €0.39.

Go gained 3.30 per cent on strong volume to reclaim the €1.755 level during the week. Similarly, Maltapost gained 1.4 per cent to reclaim the €0.71 level.

Simonds Farsons Cisk had a particularly positive week, jumping by 6.8 per cent to €1.869 while Malta International Airport moved higher by 3.3 per cent to close at the €2.17 level.

Elsewhere International Hotel Investments terminated the week at €0.94 after touching a slightly higher level. The move still equates to a positive variance of 2.2 per cent over last week's closing price.

RS2 Software traded steady at €0.72 following the announcement that the company had set up a regional office in Jordan and the Philippines which will support clients in the Middle East and Asian markets, respectively.

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.