Malta Offshore Company

* Modest gains for equities







The Malta Stock Exchange eked out a positive performance during yesterday's trading session thanks to wide spread gains across most of the equities trading on the day. The past few sessions have been characterised by the lack of any market moving news.

In nominal terms, Lombard Bank was the day's top gainer as buying activity cleared all supply up to the Lm5 level, a four month high. The day's activity consisted of 2,830 shares which were exchanged across two transactions.

HSBC Bank Malta recouped its previous sessions decline, although volumes remained relatively low with merely 13,700 shares changing hands across 10 transactions. The equity reclaimed its Lm1.90 level, leaving at the end of the session 2,250 shares best bid at Lm1.89 against supply of a further 2,527 shares at Lm1.90. HSBC Bank Malta should kick off the interim reporting season in a few weeks time.

Elsewhere in the banking sector, as much as 5,444 shares of Bank of Valletta were swapped across nine transactions without affecting their previous closing level of Lm3.60.

International Hotel Investments gained three percentage points on an acute lack of supply which left investors wishing to purchase shares with no option but to up their bids to the €1.03 level. The equity is poised to move even higher, with outstanding bids in the market for 2,305 shares at €1.04 against supply of 37,457 shares offered at €1.05.

A single transaction in Malta International Airport helped the equity soar by 3c4 or 2.6 per cent to a three week high of Lm1.35. In contrast, Maltacom shed 0c5 to close the day at Lm1.44,5 on a single transaction of 1,000 shares.

The MSE Index closed the day 0.58 per cent higher at 4,846 points.