Financial news

Trading during the final session of the week at the Malta Stock Exchange ended on a negative note as the Index registered a marginal decline to end at 3112.9 points. Activity in the equity market resulted in investors exchanging an aggregate 26 deals in five different listings.

Malta International Airport was the sole gainer during the session as the equity increased by 13c or 6.2 per cent to terminate at €2.23. Despite trading in positive territory, activity in the airport operator was relatively muted as two investors swapped only a mere 730 shares.

Bank of Valletta ended the session in the red as the equity declined by 3c9 or 1.4 per cent to terminate at €2.701. The equity traded at an intra-day high of €2.75, but selling pressure suppressed the price back to its present reading. Investors in the financial services company transacted an aggregate 15,000 shares over 11 deals for a market value of €40,926.

Maltapost shares also declined in value as the equity shed 1c1 or 1.6 per cent to end the session at €0.699. The postal operator saw a volume of 1,000 shares transacted over a single deal. The company also announced that it has continued to witness encouraging growth in the parcel/packet post business at the same time as experiencing a volume reduction in traditional postal mail.

The directors of the company therefore consider the company to be able to achieve its performance targets which it has set for the financial year ending September 30, 2009.

Following Thursday's positive showing, HSBC Bank Malta was a non-mover during yesterday's session as the equity closed unchanged at €2.85. The bank was also the session's most liquid equity as investors exchanged 38,100 shares over 11 deals for a market consideration of €108,585.

Likewise, Middlesea Insurance was also static as its price closed unaltered at €1.85. Activity in the insurance company consisted of two deals struck for a market value of €3,219. In the fixed interest sector of the market, activity was spread over two government stocks and six corporate bonds.

MSE weekly report

Trading activity picked up during the past five sessions at the Malta Stock Exchange, thereby helping the Index go up to the 3,112 level.

Crimsonwing was the week's top performer as the equity bounced back by 56 per cent to €0.39 on the purchase of merely 13,000 shares. The software specialist will be shortly announcing its full year results for the period ending in March 2009.

International Hotel Investments gained 11 per cent to terminate at the €0.899 level as 28,184 shares were purchased between €0.885 and €0.95.

Malta International Airport announced a project to diversify its sources of revenues by building a €16 million nine-storey business park. The equity closed yesterday's session at €2.23 which represents an 8.8 per cent premium on a week basis.

HSBC Bank Malta moved higher by 7.1 per cent ahead of the company's interim results, which had to be published yesterday.

Bank of Valletta was the most actively traded equity with 45,350 shares changing ownership across 35 trades. The equity gained 0.8 per cent to close at €2.701. Elsewhere FIMBank and Lombard Bank Malta moved higher by 2.6 and 0.04 per cent respectively to correspondingly close at $1.20 and €2.55. Maltapost saw two investors swap 1,000 shares at the €0.699 level.

Elswhere, Go shed 2.2 per cent dropping down to €1.751 while 3,500 shares in Middlesea Insurance were all exchanged at the €1.85 level.

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.