Equities returned back in favour among investors during yesterday's trading session at the Malta Stock Exchange, although volumes remained low.
The day's top gainer was Simonds Farsons Cisk where two investors swapped 1,464 shares at the 74c level, which represents a 4c or 5.7 per cent premium to its previous closing price.
Late buying activity in Maltacom helped the price climb 5c or 2.8 per cent to close the day at Lm1.85. The session's total activity amounted to 5,700 shares which were exchanged across four transactions in the final half hour of trading.
Bank of Valletta attracted the highest value of turnover with Lm24,949 worth of shares changing hands during the session. The equity climbed progressively to the Lm3.67 level before supply hit the market late in the day, bringing the price down to close unchanged on the day at Lm3.65.
Buying activity in HSBC Bank Malta saw 9,380 shares being picked up from the offer side across 14 transactions. As a result the equity climbed by the slimmest of margins to close the session at Lm2.15, leaving 1,395 shares on the demand side at Lm2.14 against supply of at least 2,500 shares at Lm2.15.
Malta International Airport closed the session in positive territory following the exchange of 16,412 shares across six transactions. The equity touched an intra-session high of Lm1.35 before further supply trimmed the day's gains to just 0.3 per cent and the price closed at Lm1.33,5.
Techs lead bourse rebound
Europe's bourses rebounded yesterday with technology and auto stocks leading the drive into positive territory. Gaz de France, the French utility, beat expectations with first-half net profit €1.7 billion versus a consensus estimate of €1.289 billion. GdF added two per cent to €29.45. The FTSE Eurofirst 300 rose 0.3 per cent with the Xetra Dax in Frankfurt up 0.1 per cent, the Paris CAC-40 gaining 0.1 per cent.
Japanese stocks fell as lower commodity prices reignited fears about the global economy. The Nikkei 225 fell 0.5 per cent. The broader Topix index slipped 0.7 per cent.
ITV proved to be one of the few standout features in a quiet London market that recovered from early weakness to hover around break-even. In late morning trading, the FTSE 100 was up 3.7 points. The FTSE 250 rose 0.25 per cent, lifted by engineering group Charter, which rose five per cent on news that full-year results will be ahead of expectations.
Wall Street was poised to open mixed as upgrades in the tech sector competed with oil prices moving higher after an attempted bomb attack on the US embassy in Damascus.
An hour before markets opened, S&P 500 futures were 0.57 points above fair value, while Nasdaq Composite futures were 3.33 points below fair value.
BOV and VFM are licensed by the MFSA to conduct investment services business.
Valletta Fund Management (tel. 8007 2344) and Bank of Valletta plc (Tel 2131 2020).