Financial news

Trading at the Malta Stock Exchange for the last day of the week resulted in yet another decline in the Index which shed a further 1.1 per cent to close the session at 3,047 points. Trading activity in the equity market was spread over a total of 25 deals as four listings were active during the day. All equities ended the day in negative territory with the two largest financial service providers incurring the most significant decrease in price.

Bank of Valletta was the most liquid and actively traded equity as a total of 15 deals were transacted for a market consideration of €27,845. Selling pressure in the equity continued as the price decreased by 5c or 1.96 per cent lower to end at €2.52, a multi-year low for the financial service provider. The bank published its interim director's statement earlier during the week, where the bank stated that volatility in international markets had a negative impact on BOV's performance for the period under review.

Similarly HSBC Bank Malta has also shed a further 4c9 or a 1.85 per cent decline in price as 9,899 shares were transacted over a total of eight deals to close at €2.60.

Go registered a single transaction for a market value of €8,745.The quadruple play communications company declined by a marginal one-tenth of a cent to close at €1.75, which translates to a new low for the year.

International Hotel Investments also traded on low volume as only 2,000 shares were exchanged over a single deal. The hotel owner and management group incurred a minimal loss in price of 0c8 which equates to a 0.93 per cent decrease.

In the fixed interest sector of the market activity was slightly higher than in the previous session and was spread over four government stocks and seven corporate bonds. The best performer in the corporate debt issues was the 5.6 per cent GlobalCapital 2014/16 which rose by €10 or a 15.38 per cent increase. Trading activity was spread over two deals for a total turnover of 11,300 nominal.

Weekly MSE equity report

The Malta Stock Exchange ended the first week of February in negative territory as the Index fell by three per cent over last week's reading to close at 3,047 points. Six out of the seven trading stocks registered losses.

Bank of Valletta issued its interim director's statement, where although it stated that the Bank had a particularly difficult start to its financial year, BoV also reassured its stakeholders that liquidity and capital ratios are well in excess of prudential regulatory requirements.

However, the price dropped by a further 3.85 per cent, as the Bank's shares closed at €2.50, which stands as a multi-year low.

HSBC Bank Malta also incurred a loss during the week as the listing shed a further four per cent. The bank is due to publish its financial results for the year ending 2008 by Friday, February 20.

Go issued a company announcement informing that it has concluded an agreement with Nextweb Ltd for the transfer of Nextweb's customer base. The listing, however, dropped by 5.46 per cent to close at €1.75.

Lombard Bank Malta was the week's worst performer as the equity lost 6.36 per cent to end the week at €2.65.

International Hotel Investments also ended the week in red as it shed a further 2.30 per cent to close at €0.85. Both FIMBank and Malta International Airport traded on low volume with the former experiencing no movement in price to close at €1.50 and the latter shedding a marginal 0.04 per cent to close at €2.50.

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.