Trading activity during the final day of the week on the Malta Stock Exchange resulted in a marginally negative outcome as the index dropped by a negligible 0.1 per cent to end the session at the 3,063 level. Activity in the equity market was muted as investors transacted 16 deals in two listings, both of which in the banking sector.
HSBC Bank Malta was the only equity to register a change in price and thus affect the overall result of the index, when it declined by 1c or 0.4 per cent to terminate at €2.67. The financial services company was also the session's most liquid and actively traded equity as investors transacted a total of 27,637 shares over 14 deals for a market consideration of €72,617. Bids of 1,000 shares at €2.651 and offers of 2,230 shares at €2.71 were the best unsatisfied positions at the close of trading.
Bank of Valletta was the only other equity to be active during the day's trading session, closing for the fifth consecutive day unchanged at €2.90. Investors in the bank transacted 1,444 shares across two deals.
In the fixed interest sector of the market, activity was also relatively muted albeit higher than in the equity market and was spread over six government stocks and three corporate bonds. The best performer in the sovereign debt market was the 7.8 per cent MGS 2018 which gained 136 ticks when two investors swapped €4,193 nominal to close at €125.82.
MSE Weekly report
The MSE Index closed the past five sessions practically unchanged at 3,063 points.
RS2 Software dominated the headlines following the release of their interim figures for the period ended June 30, which showed a 99.9 per cent plunge in pre-tax profits at barely €2,503 following a 50 per cent decline in revenues. The equity shed an aggregate 7.7 per cent during the week, following the transaction of 14,973 shares, to trade at an all time low of €0.60.
On the contrary, Medserv was the week's best performer gaining 1.3 per cent following the purchase of 10,000 shares which pushed the price up to the €3.545 level.
HSBC Bank Malta was the week's most liquid and actively traded equity with 41,433 shares exchanged across 29 transactions, which resulted in the equity closing slightly in the red at €2.67.
Bank of Valletta terminated Friday's session at the €2.90 level which is an unchanged week-on-week value. Lombard Bank Malta was particularly active with 17,231 shares changing hands across four transactions with all deals struck at the €2.55 level.
Elsewhere in the equity market, Go, Malta International Airport and Maltapost all finished the week at the same levels they started at, namely €1.80, €2.35 and €0.69.
Meanwhile, Middlesea Insurance announced that the half yearly results which will be published on August 25, will be adversely impacted by very difficult trading conditions from its Italian subsidiary.
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.