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The shortened week at the Malta Stock Exchange was once again characterised by strong and persistent buying activity across the whole equity market. The MSE Index maintained its positive move north, chalking up its fifteenth consecutive session of gains.
The most active equity of the week and also the biggest gainer was Maltacom, where an aggregate total of 225,425 shares were exchanged across 86 trades. This buying activity saw the price blast through its previous resistance level, closing the week better by 6.3 per cent at a four and a half year high of Lm1.85c.
Bank of Valletta remained the most actively negotiated equity, with a grand total of 128 transactions ensuring the exchange of 75,314 shares. The equity touched a record high of Lm7.27c during Friday’s session before settling down slightly to close the week at a very respectable 2.8 per cent gain.
HSBC Bank Malta continued to move in tandem with Bank of Valletta whilst Lombard Bank joining the party mid-week. Both HSBC Bank Malta and Lombard Bank closed at the Lm7.25c level, which is also their respective historical high.
Activity in FIMBank saw a grand total of 84,755 shares being exchanged across 21 trades. The price soared to an all time high of $2.00 during the final session of the week thereby helping the equity register an impressive 100% gain for the current year.
International Hotel Investments was particularly active with a massive 171,258 shares being exchanged across 15 transactions. The equity gained more than a percentage point to close at the €0.861 level.
A single transaction in San Tumas Shareholdings floored the price by 6.9 percent to Lm0.93c1 whilst trades in Malta International Airport and Middlesea Insurance did not move their closing prices with respect to the position held seven days ago.
In the fixed interest sector of the market, as many as 15 corporate bonds attracted trades. On the contrary, activity in sovereign debt diminished drastically with merely 76,200 nominal being exchanged across all issues.
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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