Financial news

Trading activity during the last session of the week on the Malta Stock Exchange closed on a positive note as the Index gained 1.5 per cent to terminate at 3,065.65 points when shares in Bank of Valletta appreciated in value. Activity in the equity market was still relatively subdued as investors transacted a total of 15 deals across three different listings.

Following Thursday's negative outcome, Bank of Valletta was the session's best performer as the equity increased by 20c or 7.4 per cent to close at the €2.90 level. The financial services company was also the day's most liquid and actively traded equity as investors transacted 20,600 shares over eight deals for a market consideration of €59,669.

HSBC Bank Malta was trading at an intra-day high of €2.70 when at one points its share price increased by 4c5. However, selling pressure in the equity resulted in a price increase of just 1c5 or 0.6 per cent to end the session at €2.671. Investors in the Bank transacted a total of 2,808 shares over three deals for a market value of €7,519. Bids of 412 shares at €2.671 and offers of 5,000 shares at €2.71 were the best unsatisfied positions at the close of trading.

Go was the only non-banking equity to be active for yesterday's session and was for the second consecutive day the sole non-mover as the price closed unchanged at €1.80. Activity in the quadruple play communications' company resulted in 8,000 shares being struck over four deals.

In the fixed interest sector of the market, activity was spread over four government stocks and five corporate bonds.

MSE weekly report

The local equity market closed the week on higher ground as the index climbed 0.6 per cent to 3,065 points.

HSBC Bank Malta was the week's best performer moving higher by almost two per cent to reclaim the €2.671 level following the transaction of 21,813 shares across 15 trades.

Bank of Valletta was the week's most active and liquid equity following the aggregate transaction of 33,192 shares which were swapped across 19 transactions to end yesterday's session at €2.90.

A single trade in FIMBank was struck at the $1.289 level which represents a 0.1 per cent discount over its previous price. The trade finance specialist published its interim results for the period ended June 30 prior to yesterday's trading session which showed a pre-tax profit of $2.40 million, compared to $33.97 million registered for the same period in 2008 which included however the significant profit made on the disposal of its associate undertaking in India.

Lombard Bank Malta drifted lower during the week on soft selling activity which saw investors dispose of 3,400 shares which shifted the price down by 1.9 per cent to €2.55.

International Hotel Investments traded steadily at the €0.841 level while similarly, a single trade in Simonds Farsons Cisk was executed without altering its previous price of €1.68

Go moved higher by 0.6 per cent to €1.80 following the aggregate purchase of 21,200 shares across nine transactions, while concurrently Maltapost declined 1.4 per cent to €0.69.

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.