Financial news

Trading activity for the final session of the week at the Malta Stock Exchange resulted in a marginal decline of 0.1 per cent to see the Index close at 2,941 points. Activity in the equity market was once again on the low side as investors transacted an aggregate 18 deals spread over five different listings. International Hotel Investments was the day's only loser, off-setting the gains in other listings, as it suppressed the Index.

HSBC Bank Malta was the session's best performer as the equity rose by 8c or 3.2 per cent in the final minutes of the session to close at €2.60. Trading activity for the financial services company was spread over five deals for a market consideration of €8,774.

Bank of Valletta was also a gainer during the session as the equity increased by 1c or 0.4 per cent to terminate at €2.65. The Bank was also the day's most liquid and actively traded equity as 5,787 shares were exchanged over seven deals for a market value of €15,334.

Malta International Airport shares also ended the session in positive territory as the local airport operator rose by a meagre one-fifth of a cent or 0.1 per cent to close at €2.092. Volume in the equity was subdued as two investors transacted a limited number of 500 shares.

International Hotel Investments defied the session's positive tune as it declined for a third consecutive day, shedding a further 5c which equates to 5.9 per cent to close at €0.80. Activity in the hotel property and management company was spread over 3877 shares swapped over four deals.

In the fixed interest sector of the market, trading activity was restricted to four government stocks and four corporate bonds. The highest turnover among the government securities was registered in the 5.75 per cent MGS 2010(II) as five million nominal were transacted over a single deal, signalling institutional investing in the issue.

Weekly MSE equity report

Trading activity during the week was spread across 10 different equities. The MSE index closed lower by three percentage points to terminate at the 2,941 level.

Go was the week's top performer moving higher by 3.4 per cent on continued buying activity which saw investors picking shares up to the €1.81 level, its highest reading in four months.

Shares of Simonds Farsons Cisk dropped 2.7 per cent to €1.80, as the company had its Annual General Meeting mid-way through the week.

International Hotel Investments was the week's worse performer, shedding almost 16 per cent of its value as 6,280 shares were exchanged across seven transactions pushing the price down to the €0.80 level.

Similarly, Maltapost registered a dismal performance as shareholders saw the value of their investment decline by 8.3 per cent as 17,974 shares were swapped across an aggregate 11 deals, to close yesterday's session at €0.651.

HSBC Bank Malta closed the week higher by 1.9 per cent, thanks to a late rally on the final session of the week which helped the equity close at €2.60.

Bank of Valletta was a non-mover as it closed unchanged at €2.65. Lombard Bank Malta declined 1.2 per cent to €2.55 while FIMBank lost 7.1 per cent to close at $1.18.

GlobalCapital closed unchanged at its previous traded price of €1.50 while Malta International Airport lost 0.4 per cent on the transaction of 3,882 shares.

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.