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Equities unchanged as volumes drop

All active equities during this morning’s trading session on the Borza closed unchanged. Following the increased trading activity registered in the last couple of weeks in reaction to various announcements including the full-year results by Bank of Valletta plc, trading volumes on the equity market today declined to their lowest level this month with only €60,700 worth of shares traded across the 6 active equities.

The share prices of the three retail banks remained supported at their previous price levels. Bank of Valletta plc closed at the €3.70 level for the seventh successive session on volumes of over 10,800 shares. HSBC Bank Malta plc maintained the €2.95 level across 3,340 shares with low volumes of 1,700 shares in Lombard Bank Malta plc at the €2.65 level.

Another 1,752 FIMBank plc shares traded unchanged at US$0.93 with further offers outstanding at this level. The other two active equities were GO plc and Malta International Airport plc which also maintained their previous price levels.

Shortly after the closure of today’s trading session, Simonds Farsons Cisk plc issued its Interim Directors’ Statement. The Directors explained that that the overall performance between August and October was satisfactory despite the highly challenging and competitive environment in which the Group operates. The Directors also stated that turnover continues to increase across all segments with some notable successes in export markets. The Directors of Farsons stated that they expect the Group’s results for the current financial year to show an improvement in profitability over the previous year when a pre-tax profit of €3.1 million was generated.

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