During the last session of the week, the Malta Stock Exchange index saw a slight decline, as it dropped by 0.413 per cent to close at 3,339 points. The index was dragged lower by the leisure property company, International Hotel Investments. The day's trading consisted of 26 deals spread over five different equities with an aggregate value of €115,849.
A sole trade for 10,000 shares in IHI was transacted a few minutes after the opening bell which left the equity as the only share price to fall during the session. In fact the deal was matched at €0.91 which represents a decline of 4.21 per cent. At this price level, the market capitalisation stands at €503.4 million.
Datatrak Holdings closed higher as a single deal for 4,500 shares was executed at €0.30 ending the day at 3.45 per cent higher.
Following a day of inactivity, Bank of Valletta traded without the right to receive the final dividend. Activity was spread over eight transactions with an aggregate of 6,420 shares as buying interest pushed the price higher by 5c or 1.44 per cent to end the session at €3.53.
HSBC Bank Malta was the day's most liquid and actively traded component with 28,297 shares dealt over 15 transactions which saw executions up to the €2.895, thereby equating to a gain of 1c5.
Lombard Bank's share price closed unchanged when 552 shares were traded over a single deal at €2.948.
In the fixed interest sector of the market, activity was spread across three corporate bonds and eight government stocks. The 5.9% MGS 2015 (II) attracted the highest turnover, with 625,000 nominal, as it closed up by 0.49 per cent at €109.37.
The only decline in the local bond market was registered in the 4.8% MGS 2016 (II) when 23,294 nominal were swapped at a price of €101.95.
MSE weekly report
Local investors remained focused on the banking sector over the past week, with investors reacting positively to Bank of Valletta's full year results.
Bank of Valletta was in fact the week's top gainer with the market completely reversing an initially negative reaction, that forced the price to a multi-year low during Monday's session. The equity closed the week under review at €3.53 which equates to a gain of 3.8 per cent.
Go traded relatively flat, terminating the period at €1.90 on a handful of deals. On the last session of the week, the company announced that its Cypriot joint venture had acquired a further tranche of shares in Forthnet, raising its stake in the company to above 34 per cent.
HSBC Bank Malta was the week's most liquid equity, as it terminated slightly lower at €2.895. FIMBank suffered the sharpest decline, dropping 8.2 per cent down to the $1.45 level. On the contrary, Lombard Bank Malta moved higher by the slimmest of margins to close yesterday's session at €2.948.
International Hotel Investments shed 3.2 per cent on lack of buying activity, which pushed the price lower to €0.91, its lowest level since May 2007.
Elsewhere in the market, Crimsonwing, Malta International Airport, Maltapost, Middlesea Insurance and Plaza Centres all terminated the week lower, while Datatrak Holdings, listed on the Alternative Companies List, bounced 3.5 per cent, as 4,500 shares were exchanged at €0.30. Otherwise, trades struck in RS2 Software did not alter its previous price of €0.75.
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.