The local equity market rounded off the last full-week of August with a positive performance for the first time in eight sessions with the MSE Share Index rising by 0.4% to 3,083.321 points. However, despite today’s upturn, the local equity market still closed the week in negative territory with a 1.3% drop mainly due to the declines in the three largest equities by market cap, namely the two large banks and International Hotel Investments plc (-2.7%).
The share price of HSBC Bank Malta plc eased marginally lower today to close the week at its 23-month low of €2.65 representing a 1.9% weekly drop. On the other hand, Bank of Valletta plc partially recovered by 0.6% to regain the €2.51 level across twelve trades totalling just over 19,000 shares. However BOV’s equity still ended the week 2.1% lower.
A last minute trade of 900 Malta International Airport plc shares was transacted at the €1.58 level representing a rise of 5.33%. The only other active today was RS2 Software plc which maintained the €0.55 level across a further 16,300 shares. The IT Company is scheduled to publish its half-year results next Monday.
Yesterday evening, GlobalCapital plc published its financial statements as at 30 June 2011. GlobalCapital incurred a net loss after tax of €1.6 million during the first half of 2011 compared to a loss of €1.4 million for the equivalent period in 2010. The downturn in the capital markets led to fair value losses amounting to €0.9 million during the first half of 2011.
On the bond market, the Rizzo Farrugia MGS Index reversed most of yesterday’s decline as it edged 0.3% higher to 990.278 points following the renewed downturn in Eurozone yields. Nonetheless, volumes remained high across Malta Government Stocks with a further €2.9 million (nominal) changing hands today. During the past five session just over €34 million (nominal) traded – just below the record trading activity of €34.4 million in local government paper during the first week of April.