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09/09/2010 12:00 - Trading resumes on a quiet note

Trading activity resumed as usual yesterday at the Malta Stock Exchange following Wednesday’s public holiday. The day ended however on a negative note for the Index as it dropped by 0.2 per cent to terminate at the 3,382.16 level. This happened when the gains registered in HSBC Bank Malta did not suffice to make up for the drops registered in another three equities. In the equity market, activity resulted when investors exchanged an aggregate of 29 deals across six different companies.

 

The day’s sole gainer was HSBC Bank Malta, which registered a 1c increase to its share price, equating to a gain of 0.3 per cent to close at €2.84. However, the Bank was trading at an intra-day low of €2.80, when buying activity supported the price to its current close. The Bank hit the day’s highest number of deals as investors transacted 9,648 shares across ten deals for a market consideration of €27,067.

 

Meanwhile, the session’s worst performer was Middlesea Insurance, as its share price dropped by 4c or 3.8 per cent to terminate at its lowest level since June at €1.01. Investors in the insurance company swapped 7,042 shares over five deals. Bids for 800 shares at €1.01 and offers of 5,300 shares at €1.05 were the session’s best unsatisfied positions at the close of the trading session.

 

Bank of Valletta shares also ended the day in the red, as the equity shed 2c or 0.6 per cent to close at €3.18. Trading activity in the bank’s shares resulted when 5,609 shares were exchanged across four deals for a market value of €17,938.

 

Beyond the financial sector, Malta International Airport also ended the session in negative territory as its share price depreciated by 1c or 0.6 per cent to terminate the day at €1.55. The airport operator recorded the day’s highest volume as 12,200 shares were exchanged over four deals.

 

International Hotel Investments registered no change to its share price as it closed unaltered at the €0.83 level. Activity in the hotel property and management company resulted when investors transacted a total of 11,000 shares across five deals.

 

Likewise, Plaza Centres also ended the day without registering any movement in its share price, closing unchanged at €1.65. Volume in the company was on the low side and resulted when two investors swapped 2,300 shares.

 

In the fixed interest sector of the market, activity dropped from the previous session and was spread over seven corporate bonds and nine government stocks. The highest turnover in the sovereign debt market was registered in the 5.25% MGS 2030 (I) FI Aug 10, as €806,300 nominal were exchanged over 11 deals, gaining 94 ticks to close at €103.75.

 

 

This article has been prepared by Bank of Valletta p.l.c. (the Bank) for your general information only and is not intended to address your particular requirements. This information is not a solicitation or offer by the Bank to acquire or sell securities. Nor does it constitute any form of advice or recommendation by the Bank.  Appropriate independent advice should be obtained before making any such decision.  The price of investments can go down as well as up, and investors may not get back the amount they invested. Past performance is not necessarily a guide to future performance.

 

Bank of Valletta p.lc. is licensed to conduct investment services business by the MFSA. Bonds and shares may be purchased and sold from any BOV branch. Further details may be obtained by contacting us on Tel. 2131 2020 or email: customercare@bov.com