Financial news

Trading activity for the last session of the week at the Malta Stock Exchange broke Thursday's stalemate which resulted in no equity trading. During yesterday's session the index increased by 0.6 per cent to terminate at the 2,965.75 level. Activity in the equity market was focused in the banking sector as investors concluded an aggregate 10 deals in the two largest local banks.

HSBC Bank Malta was the day's gainer as the equity rose by 5c which equates to almost a two per cent increase to terminate the session at €2.66. Despite trading throughout much of the session at €2.62, buying activity in the final moments of the session pushed the price to its present standing. Trading in the financial services company resulted in a total of 1,908 shares being transacted over four deals for a market consideration of €5,046. Earlier during the week the bank announced that its board of directors is scheduled to meet on July 31 to approve the bank's interim accounts for the half-year ending June 30.

Despite trading throughout much of the week in positive territory, Bank of Valletta declined during yesterday's session as the equity shed a marginal 1c or 0.4 per cent to end the day at €2.68. The bank traded during the session at an intra-day high of €2.70 but selling pressure resulted in the reported decline. The bank was nevertheless the session's most liquid and actively traded equity as investors swapped 3,936 shares over six deals for a market value of €10,563.

In the fixed interest sector of the market, activity was spread over four government stocks and five corporate bonds. The best outcome in the corporate debt issues was the 5.35% Bank of Valletta 2019 bonds which rose by 89 ticks as investors transacted €68,000 nominal over four deals to close the session at €102.90. The highest turnover in the government securities was registered in the 5.7% MGS 2012(III) as two investors transacted €93,175 nominal to close at €108.40.

MSE weekly report

Trading volumes declined drastically during the past five sessions at the Malta Stock Exchange, during which the index gained 0.6 per cent to close at 2,966 points.

Maltapost was the week's star performer moving higher by six percentage points on the transaction of a single deal executed at the €0.71 level.

HSBC Bank Malta and Bank of Valletta posted a positive showing moving higher by 1.9 per cent and 0.8 per cent respectively. The former closed the week at €2.66 while the latter terminated at €2.68.

A single deal for 7,000 shares was struck in Lombard Bank Malta at the €2.549 level.

The week's activity in Go consisted of 10,000 shares which were exchanged during the five day period within a 2c range above the €1.78 level.

Malta International Airport shares declined 2.4 per cent, bringing the price down to the €2.05 level, while 10,000 shares of Simonds Farsons Cisk were swapped in a single deal without altering its previous price of €1.68.

During the week, Mediterranean Investments Holdings announced that it had signed a shareholders' agreement with the Economic Development Real Estate Company of Libya for the development of a 40-storey high-rise tower on the Tripoli seafront.

Separately, Plaza Centres and HSBC Bank Malta both announced that their boards will be meeting to consider and approve their respective Interim Financial Statements on July 27 and July 31.

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.