The Malta Stock Exchange Index fell almost 35 points, or 0.9 per cent in the last session of the week, to close at 3,804.528, as investors turned decidedly bearish in a broad sell-off of equities.

Shares of HSBC Bank Malta plc dropped 4c9, or 1.4 per cent, to close at €3.450 in two trades of a total of 2,900 shares. At the end of the session, HSBC released its operating results for the financial year ended 31 December 2010. The banking group earned a pre-tax profit of €83.1 million, an increase of 16.7 per cent over 2009, as the company witnessed a stronger net interest margin, higher fees and commission income and a moderate increase in operating expenses.

Bank of Valletta plc shares were also lower on the day, dropping 5c, or 1.6 per cent, to close at €3.000, in 28 deals for a total of 45,655 shares.

Shares in other sectors of the market were also hit by negative investor sentiment. Plaza Centres plc stock dropped 2c, or 1.2 per cent, to end the session at €1.650 on volume of 5,000 shares across two deals.

The equity of the local airport operator, Malta International Airport plc, also fell on the day, shedding 5c, or 2.8 per cent, to register as the day’s worst performer and finish at €1.750. Volume was moderately light as 13,626 shares changed hands across 5 deals.

GO plc stock was the sole bright spot in the equity market on Friday as it added 0c9, or 0.5 per cent, to end the week at €1.859 in four deals for a total of 54,200 shares.

Other shares to trade yesterday, but failed to register a change in their closing prices were MaltaPost plc, and MIDI plc, which ended the session at €1.100 and €0.450, respectively. MaltaPost shares, at one point in the session, were lower by 2c, but managed to climb their way back in the later half of the session to end the day unchanged.

Trading in the corporate bond market remained light as €77,200 nominal was executed across 16 deals. Out of the seven bonds to trade in the session, only one finished higher while one closed lower.