It was a muted end of week session at the Malta Stock Exchange with just two equities registering trades. The MSE index recorded a slight increase of 0.005 per cent to close at 3,307 points which was brought about by the only increase in price of the oldest listed equity on the local exchange. Activity consisted of a mere five trades having an aggregate value of €14,767.
In fact, Bank of Valletta continued its trend of daily slight increases on a turnover of 4,000 shares executed over three deals. Trading started right after the opening bell, to the highest intra-day price of €3.62, thereby ending the week at this price. As the session terminated, there was outstanding demand for 860 shares best bid at €3.59 against an unsatisfied supply of 1,000 shares offered at €3.615.
Two transactions executed in HSBC Bank Malta shares carrying a low volume of 100 shares saw the price remained unchanged at €2.89c9. At this price level, the bank's market capitalisation stands at €846,044,160, remaining the largest local equity by this measure.
The rest of the market was markedly hushed with no other transactions being struck in any other MSE Index component.
In the fixed interest sector of the market, activity was spread across three corporate bonds and five government stocks. The 4.8 per cent MGS 2016 (II) attracted the highest turnover, with 180,000 nominal, pushing the price lower to €105.82.
The highest percentage increase in the local bond market was registered in the 6.7 per cent Eden Finance 2010 as 5,000 nominal swapped hence at a price of €98.50 therefore trading higher by 1.03 per cent.
Sour week for FIMBank
Continuing with the previous month's trend, the Malta Stock Exchange closed lower, although the decline across the past week was just 0.28 per cent which brought the MSE index down to close yesterday at 3,307 points, with FIM Bank comparatively being the only drag on the reading for the period.
FIMBank was by far the week's biggest laggard as six deals totalling 16,200 shares discounted its value by 6.74 per cent, forcing the price to close at $1.30, last reached at the beginning of March, 2005.
MaltaPost was the week's most liquid equity with an aggregate grand total of 39,602 shares changing hands over the five session period. The equity closed 5.26 per cent higher at €0.80.
Weekly activity in HSBC Bank Malta was comparatively low, with a total of 9,729 shares executed over 17 deals, to end at €2.89,9 yesterday.
Bank of Valletta was again the week's most active listing with 23 trades for an aggregate of 22,780 shares, leaving the equity close unchanged at €3.62. At the end of last week, the company announced that it will be convening its shareholders for the 35th Annual General Meeting on the December 17. Apart from the ordinary resolutions, a number of extraordinary resolutions are also being proposed detailing changes to the articles and memorandum of association.
A single trade in Go brought two investors to exchange 5,000 shares without altering its previous established price of €1.90.
Interest with relatively low volumes in Malta International Airport and San Tumas Shareholding also failed to steer any moves, thereby closing unchanged.
The bulk of the week's trades were in the fixed interest market, where investors jolted for the best possible yields prior to last Thursday's monetary policy meeting of the European Central Bank, were as expected benchmark interest rates were lowered.
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.