Financial news

The negative trend persisted at the Malta Stock Exchange as the Index declined by a further 0.93 per cent to close at 3,141 points. Three equities were active with two components registering a decrease in price thereby contributing to the downturn in the reading. Trading activity was spread over a total of 14 deals for an overall value of €17,309.

Bank of Valletta was the most actively traded equity on the day as trading was spread over seven deals for a total market consideration €5,353. The bank registered no change in price for the session as it closed at €2.60 leaving, at the end of the session, a further 610 shares unfilled on the offer side at this level countered by demand for a mere 55 shares bidding at €2.952.

Lombard Bank Malta was the worst performer for the day as the financial services company lost 17c or 5.7 per cent on low volume activity, to end the session at €2.83. Trading activity was spread over a single transaction that was valued at €1,415.

HSBC Bank Malta too moved lower, with the equity shedding a further 6c from Thursday's closing price. The bank was the most liquid listing during the session as 14,750 shares were exchanged over a total of six deals, squeezing the price down to the €2.71 level.

In the fixed interest sector of the market activity was relatively high as trading was spread over nine government stocks and eight corporate bonds. The highest turnover in the corporate debt issue was registered in the 7% MIDI 2016/18 denominated in euro as a total of 82,500 nominal were swapped over two transactions. The euro tranche of the bond that started trading earlier this week following the public offering in January incurred the first loss in price, closing 50 ticks less at €100.5.

Weekly MSE equity report

The Malta Stock Exchange ended the week on negative ground as the Index fell by a further 1.74 per cent over last week's reading as it closed at 3,141 points.

Middlesea was the week's best performer as the local insurance company increased by 1.2 per cent at €2.58.

Bank of Valletta was the most actively traded equity for the week with activity spread over 91 deals for a total traded volume of 124,700 shares.

The financial services company registered a marginal loss in price as the equity shed 1.1 per cent to close at €2.60.

HSBC Bank Malta closed the week negatively as the equity lost 4.1 per cent of its market value. The Bank is due to report its full year results for the year ended 2008 within a couple of weeks.

Go also ended the week on negative ground as the telecommunication company shed a marginal 0.5 per cent from its share price to close at €1.85. Lombard Bank Malta was the worst performer of the week as it lost 5.67 per cent in share price.

The bulk of the week's trades were once again in the fixed interest market, where an aggregate weekly nominal volume of 1,463,568 were transacted in government stocks.

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.