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Trading in equities during the past week was spread across a large number of securities, as the Malta Stock Exchange Index peaked on Wednesday at 4,121 points before retreating modestly on profit taking.
Bank of Valletta was undoubtedly the most actively traded equity on the market with Lm214,000 worth of shares being exchanged across 107 transactions. The price rallied strongly during the first three sessions of the week, topping out at Lm5.98c5, but dropped sharply thereafter on low volume. Nevertheless, the equity closed the week a full percentage point higher at Lm5.81c. Bank of Valletta will be announcing its full year results on Friday 28th October.
It was a dizzying week for HSBC Bank Malta shareholders who watched the price wobbled drastically within a 20c range above Lm6.25c. A grand total of 33,767 shares were exchanged during the period, with sellers remaining the dominant force in the market as the price closed 1.2 per cent lower at Lm6.38c.
Elsewhere amongst other banking sector equities, FIMBank declined 2.2 percent to close at $1.80 whilst Lombard Bank ended the week unchanged after hitting an all time record high of Lm7.05c during Monday’s session.
Malta International Airport traded all week close to the Lm1.40c level, in line with the Government’s offer price for its second tranche of shares to the public, whilst International Hotel Investments gained 5.8 per cent to touch a 27 month high of €0.90.
Demand for Maltacom shares was constant throughout the week, with an aggregate total of 62,293 shares being exchanged across 58 trades. The price rose 1.6 percent to close slightly below the Lm1.60c resistance level.
Further declines were in store for Simonds Farsons Cisk, as investors continued to react negatively to the company’s interim results, whist Middlesea Insurance eked 2c higher to terminate the week at Lm3.37c.
Once again, the week’s top performer was Datatrak Holdings, as speculation in the Alternative Company’s List quoted company remained rife. Shares gained a whopping 8 per cent to close at Lm0.40c, its highest level since June 2003.
Activity in the fixed interest market picked up nicely, with financial institutions being the major force behind the doubling of turnover in sovereign debt. Amongst corporate bonds, all three issues of International Hotel Investments attracted trades.
The MSE Index closed the week 0.13% higher at 4,099 points.
This article was compiled by BOV Stockbrokers ltd, a member of the BOV Group. BOVSL’s offices are situated at BOV Centre, Cannon Road, Sta Venera. You can also contact BOVSL by email at bovsl@bov.com, by phoning on 2275 1732 or else visit the website at www.bovsl.com
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