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The trading activity in equities at the Malta Stock Exchange during the past five sessions was relatively volatile with initial profit taking giving way to more buying activity.
Typically, banking sector equities were the most liquid companies although trading here was mixed. Bank of Valletta shares close the week at Lm6.86c as selling activity continued to plagued the equity since an all time high of Lm7.06c was registered during the previous week.
On the contrary HBSC Bank Malta ended higher as fresh buying activity sparked a mini-rally in price during the second half of the week. Although volumes traded remain weak, this was enough to see the price better by 1.6 per cent at Lm7.01c.
Lombard Bank touched its all time record high of Lm7.10c during the period under review but failed to hold on to this level, and actually closed weaker for the week. In contrast FIMBank gained 2.4 per cent to claim the $1.895 level, just a whisker away from its all time high.
After the close of Monday’s trading session, Malta International Airport reported its interim results which showed a slender decline in pre-tax profits although the net interim dividend of 2c5 was maintained. Reception to the results was lukewarm as investors deemed them to be already priced in. Nevertheless activity in the Put-Through market remained vibrant with as many as 200,000 shares being swapped during each session.
Maltacom was the only larger capitalised company not to register any movement in price. Investor reaction to a newspaper report on Friday that UK telecom company Cable & Wireless was interested in purchasing a stake in Maltacom was relatively muted.
Elsewhere in the market International Hotel Investments was the top performing equity on the big board, as a burst of buying activity during Thursday’s session saw the price better by 6.4 per cent. Simonds Farsons Cisk pulled away from its recent lows to terminate at its highest level in four weeks.
Plaza Centres reversed their previous positive trend to close back down at the Lm0.62c level whilst a single transaction of 1000 shares of Global Financial Services Group was executed at a 3c discount to its last closing price. San Tumas Shareholdings reclaimed the Lm1.00c level, leaping 7.4 per cent during Tuesday’s session.
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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