Yesterday, the Maltese equity market saw sluggish trading predominantly in the red. The Malta Stock Exchange Index closed at 3821.28 points, down by 0.27 per cent, with 74,229 shares traded. The gainers of the day were HSBC Bank Malta p.l.c., International Hotel Investments p.l.c. and Maltapost p.l.c. On the other side of the spectrum Bank of Valletta p.l.c., GO p.l.c., Malta International Airport p.l.c., Lombard Bank p.l.c. and RS2 Software p.l.c. traded lower.
On the banking front, the shares of HSBC Bank Malta p.l.c. edged forward €0c1 to close the second session of the week at €3.251. Meanwhile, the volume was poor as only 560 shares were swapped across two transactions. The total turnover of the week amounted to 57,497 shares and exchanged across forty-four deals.
International Hotel Investments p.l.c. the second largest capitalization stock on the Malta Stock Exchange’s Official List increased €0c5 at €1.02. A total of 24,994 shares changed hands in three deals. At the end of trading, bids for 16,638 shares stood at €1.02, whereas the best offer for 2,146 shares stood at €1.06.
Maltapost p.l.c. was another stock that made some headway. The share price climbed €3c0 to settle at the €0.82 level across 9,089 shares. Week on week, Maltapost p.l.c. gained 2.5 per cent from its closing price of €0.80 on Tuesday 16th September.
On a negative note, Bank of Valletta p.l.c. shares dropped €0c2 to terminate the session at €4.309 across 7,960 shares. These shares were swapped across fourteen transactions and carried a market value of €34,355.94. Week on week, Bank of Valletta p.l.c. lost 6.33 per cent from its closing price of €4.60 on Tuesday 16th September.
On the telecommunications front, GO p.l.c. surrendered a notable €10c9 to finish at €2.201. The price shifted in a range of €2.201 to €2.251. At market close, best unsatisfied bids stood at €2.201 for 2,375 shares against best offers of 212 shares at €2.24. On Thursday 18th September GO p.l.c. announced that Forgendo Limited (the joint venture company between GO PLC and Emirates International Telecommunications (Malta) Limited) has acquired a further 125,000 shares in Forthnet S.A. issued share capital, for a total consideration of €269,450.
On even lower volume, Malta International Airport p.l.c. retreated €0c1 to €2.999 across 3,850 shares. The lowest traded price during the session was €2.998, whereas the highest traded price of the day was €2.999.
The shares of Lombard Bank p.l.c. also pegged down to lower levels at €3.049, down €1c1 across 9,000 shares. RS2 Software p.l.c. witnessed a decline too. 9,300 shares were swapped as the price slipped by €0c8 to €0.821 in one trade.
Crimsonwing p.l.c. was the non-mover of the day leaving its previous market price at €0.50 across 751 units.
On Thursday 18 September Datatrak Holdings p.l.c. announced that further to the Company announcement made by the Company in connection with the appointment of Mr Joe Fenech Conti, Mr Michael Soler and Mr Lawrence Zammit as directors of the company with effect from 7 August 2008.
In the fixed interest market, a total of €2,410,097 (11 Deals) were transacted in Government Bonds, whereas a total of €22,997 (4 Deals) were transacted in Corporate Bonds during the past week.
The turnover value in the Treasury Bill secondary market amounted to €39,913.20.
Issued by GlobalCapital Financial Management Ltd, 120 The Strand, Gzira, GZR1027 for information purposes only and is not intended to constitute any financial, legal or tax advice. This write up is not to be taken as investment advice to buy or sell any investment. Investors should seek professional advice prior to taking investment decisions and should note that the value of investments may fall as well as rise. Readers who would like more information are invited to send an E-mail to [email protected] or Tel: 21 342342. GlobalCapital Financial Management Ltd is a member of the Malta Stock Exchange and is licensed by the Malta Financial Services Authority (MFSA).
