Financial news

Trading for the last day of the week at the Malta Stock Exchange resulted in a negative outcome of the Index which declined by a marginal 0.2 per cent to end the session at 3,041 points. The two largest banks in asset terms and market capitalisation were the sole gainers during the day. Meanwhile, activity in the equity market was spread over an aggregate 15 deals in four listings.

Bank of Valletta, the largest bank by assets, led the list of gainers as the equity added another 1c9 or 0.8 per cent to close the session at €2.449. Trading activity increased from the previous session as investors swapped a total of 9,445 shares over four deals for a market consideration of €23,136.

HSBC Bank Malta, the largest company by market capitalisation, was also a gainer for the day as it rose by a negligible 0c3 which equates to an increase of 0.1 per cent to terminate at €2.58. Trading activity for the financial services company was relatively muted as 1,600 shares were transacted over two deals.

Middlesea Insurance was the worst performer during the session as its price dived by 26c or 11.5 per cent to end the session at its lowest level for the year at €2.00. The decline was registered when just 200 shares were swapped over two deals.

Go was the day's most liquid and actively traded equity as investors exchanged an aggregate 12,171 shares over seven deals and a monetary value of €20,953. Nevertheless, trading activity for quadruple play communications' company resulted in a negative outcome as its shares depreciated by 2c or 1.2 per cent to end the session at €1.72. Despite trading at an intra-day high of €1.74, selling pressure during the day lowered the price to its present standing.

In the fixed interest sector of the market, activity was spread over four government stocks and six corporate bonds. The highest turnover in government securities was registered in the 6.25% MGS 2011 (II) as 87,469 nominal were swapped over a single deal as it shed 34 ticks to close at €106.10.

Weekly MSE equity report

During the past five sessions deals were struck in eight listings with investors in general preferring to cash in some of their recent gains. As a result the MSE Index lost 0.2 per cent during the past week to terminate yesterday's session at the 3,041 mark.

Bank of Valletta was the only equity to buck the trend closing higher by 2.5 per cent at €2.449, its highest level in four weeks.

HSBC Bank Malta traded within a tight trade range, closing yesterday's session 0.7 per cent lower at €2.58. Elsewhere in the banking sector, FIMBank dropped 0.8 per cent to $1.28.

Middlesea Insurance was the week's worst performer with the equity sinking by 11.5 per cent on the transaction of a mere 200 shares, bringing the price down to the €2 level, its lowest reading since February 1999.

A single low volume transaction in International Hotel Investments brought a one per cent decline to its price which terminated at €0.99.

Malta International Airport had a hard landing in the past week shedding 5.7 per cent to close at the €2.20 level, while no change was registered in Go and Medserv with their equities closing at the €1.72 and €3.55 level, 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.