Financial news

Trading for the last day of the week at the Malta Stock Exchange resulted in a further decline of the index which was squeezed lower by 0.9 per cent on selling pressure to close below 3,000 points at the 2,983 level. Activity in the equity market was spread over an aggregate 23 deals with investors trading in a total of five active listings.

Bank of Valletta was the day's most actively traded equity with 9,160 shares being exchanged across a total of 11 deals. The equity declined to the €2.38 level before late buying activity trimmed the day's losses to just 1c or 0.4 per cent to close at €2.389.

HSBC Bank Malta was the day's worst performer as the equity lost 9c9 or the equivalent of 3.8 per cent as two investors swapped 1,000 shares at the €2.50 level. At the end of the session 4,000 shares remained outstanding on the bid side at €2.50 while 1,000 shares were best offered at €2.59.

Similarly Lombard Bank Malta closed in the red on the transaction of 2,000 shares in a single deal which was struck at the €2.65 level, which represents a 5c or 1.9 per cent discount over its previous closing price.

International Hotel Investments was the day's best performer as the equity gained 1c5 equating to a rise of 1.6 per cent to terminate the session at €0.95. Trading activity for the hotel proprietary and management group was spread over five deals and a market value of €6,570.

Go was also a gainer for the session as its shares rose by 1c to close at €1.74. The telecommunications incumbent was also the day's most liquid equity with investors transacting an aggregate 11,000 shares over five deals.

In the fixed interest sector of the market, activity was higher than usual and spread over 12 government stocks and six corporate bonds. The highest turnover was registered in the 5.7 per cent MGS 2012(III) when three million nominal were exchanged over a single deal to close unchanged at €108.60.

Weekly MSE equity report

Profit-taking characterised the week's activity at the Malta Stock Exchange with equity prices moving lower across the board and thereby pushing the index below the 3,000 mark.

FIMBank was the week's most liquid equity as 257,934 shares were swapped without altering its previous closing price of $1.29.

HSBC Bank Malta was the worst performer, shedding 3.9 per cent to terminate yesterday's session at €2.50.

Lombard Bank Malta moved lower by 1.9 per cent during yesterday's session alone, while Go terminated yesterday's session at €1.74 which represents a 0.9 per cent discount to its previous week's close.

Bank of Valletta shed 0.4 per cent to end yesterday's session at €2.389. On Wednesday the Bank announced the issue of a 10-year 5.35 per cent Subordinated Bond issue of €35 million, subject to an over-allotment option not exceeding €15 million.

International Hotel Investments was the week's best performer with buying interest pushing the price to €0.95, a multi-month high.

Similarly, low volume buying activity propelled Malta International Airport higher by 0.5 per cent to the €2.18 level. A single transaction for 200,000 shares was exchanged in Maltapost without disturbing its previous price of €0.71, while no movement was registered in Medserv too as 2,000 shares changed hands at €3.55. Low volume activity in Simonds Farsons Cisk in the first few sessions of the week brought a slight decline in its price which closed at €1.868.

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.