Financial news

Thursday's widespread activity on the Malta Stock Exchange was short-lived as yesterday's session saw volumes reverting to a dejected mode. Marginal gains in Bank of Valletta shares were offset by losses in Malta International Airport, which saw the MSE Index shedding 0.112 per cent to close the week at 2940.94 points.

Bank of Valletta was the only gainer on the day as the equity inched higher by the lowest possible margin as the banking equity gained one-tenth of a cent to close the session €2.65. BOV shares also registered the highest volume as 6,209 shares were transacted over three different deals.

Another banking equity trading on the day was HSBC Bank Malta. However, activity in the most capitalised company on the local exchange did not result in any price movement, as the equity closed unchanged at €2.60. Trading activity consisted of 3,070 shares spread over four deals.

Go was also a non-mover, as the telecommunication company was held at a standstill. Intraday activity pushed the price higher by the slimmest of margins but subsequent activity forced the share price lower to close the session unchanged at €1.82. At the end of the session there stood 2,000 shares best bid at the €1.80 level against a supply of 1,000 shares with an ask price of €1.82.

Meanwhile, a forced seller pushed MIA shares lower by 0.069 cents or 3.19 per cent as the exchange of 1,300 shares dragged the airport operator's equity lower to €2.091.

As opposed to the equity section of the market, trading in the fixed income section of the market vibrated with ample trading activity. The last session of the week saw activity in six different corporate issues and 13 government stocks. The general mood on the bond market was relatively positive with most MGSs trading in positive territory and the recently issued BOV bond gaining further ground.

Weekly MSE equity report

The MSE Index closed the past shortened trading week practically flat at 2,940 points, as sharp declines in the smaller capitalised companies were offset by slight gains in the larger components.

Crimsonwing was the week's worst performer as a single investor sold 14,200 shares during Thursday's session at the €0.25 level. This represents a 35.9 per cent drop from its previous closing level. Middlesea Insurance shed seven percentage points and tumbled to its lowest closing level in 11 years as 3,000 shares changed hands, closing at €1.86.

The whole banking sector terminated the week unchanged with HSBC Bank Malta at €2.60, Bank of Valletta at €2.65, Lombard Bank Malta at €2.55 and FIMBank at the $1.18 level.

Go continued to recover lost ground moving higher by 0.6 per cent during the period to reclaim the €1.821 level. Elsewhere in the market, selling activity in Medserv and RS2 Software brought about a 1.4 per cent and 1.6 per cent decline in the oil services and IT provider which correspondently closed at €3.50 and €0.679.

Malta International Airport had a particularly volatile week but in the end drifted lower by just 0.05 per cent to €2.091, while GlobalCapital traded steady at €1.50.

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.