The Malta Stock Exchange Index yesterday more than erased Tuesday’s gains closing at the 3,311.197 level, down 1.56% on the previous close. Trading was moderate at 58,255 shares which were executed across 34 deals. None of the six issues that were traded yesterday registered a gain while only one, International Hotel Investments plc, was unchanged on the previous close.
Shares in Bank of Valletta plc contributed to much of yesterday’s decline, ending the day with a loss of 14c5, or 5.27%, finishing at €2.605 and thus reversing most of Tuesday’s gains. Still in the financial services sector, shares in HSBC Bank Malta plc also ended the day 1c, or 0.34%, lower at €2.910. Trading volume in this equity was light with 1,449 shares changing hands across two deals. Other big losers in yesterday’s session were Simonds Farsons Cisk plc and Malta International Airport plc. The former shed 5c, or 2.86%, to end the day at €1.700. The local airport operator, on the other hand, fell 4c, or 2.3%, to finish at €1.700. GO plc also finished the day in negative territory ending 2c, or 1.47%, lower to close at €1.340.
Separately, Island Hotels Group Holdings plc published its financial statement for the six-month period ending 30th April 2011. The Group reported a loss before tax of €2.65 million (2010: €2.62 million loss).
In the corporate bond market, three of the 12 bonds that traded ended higher, seven remained unchanged whereas two traded lower. The best performer of the day was the 4.25% FIMBank plc USD 2013 which gained USD 1.00, or 1.01%, to finish at USD 100.00. Other gainers were the 6.6% Eden Finance plc 2017-2020 and the 7.15% Melita Capital plc € 2014-2016 which finished at €102.000 and €100.25 respectively. The 7% FIMBank plc EUR 2012-2019 and the 6.25% Tumas Investments plc € 2014-2016 both lost ground in yesterday’s session with the former closing at €100.50 and the latter at €103.01.
Yesterday’s trading in the government bond market consisted of three issues, with one bond ending in positive territory and two losing ground. The biggest mover was the 5.25% MGS 2030 (I) which added €1.00, or 0.98%, to end the day at €101.50.