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  • The MSE Share Index eased 0.16% lower to 3,486.956 points as the slight gain in HSBC was offset by losses in various other companies led by a 2.4% decline in MIA. Download a copy of the Equity Market Summary.
  • After five days of declines, the Rizzo Farrugia MGS Index edged minimally higher to 1,021.048 points as some of the longer-dated MGS’s were priced higher following the sharp drop in recent days.
  • Medserv plc confirmed that the prospectus detailing conditions under the €20 million debt issuance programme is being published tomorrow.
  • The share price of Malta International Airport plc was the worst performer of the day as it dropped by 2.4% to a 3-month low of €1.95. Only 3,000 shares traded today with no further demand entering the market during the session. In the local media yesterday it was reported that SNC Lavalin, the Canadian company, which is part of the Malta Mediterranean Linking Consortium which owns 40% of MIA claimed that their stake in the company may be put up for sale “in the near term”.
  • HSBC Bank Malta plc edged 0.4% higher to the €2.70 level but volumes were weak at only 1,822 shares.
  • Only 2,964 shares of Bank of Valletta plc traded today with the price easing by 0.4% to €2.40
  • Lombard Bank Malta plc gave back last Friday’s gains and dropped again to €1.90 across 4 deals totalling 10,000 shares. Lombard will be issuing their interim results next Thursday 22 August.
  • The most actively traded equity today was MIDI plc with a total of 220,000 shares changing hands at the all-time low of €0.24. Recently, MIDI issued a press release announcing that all 281 apartments launched since 2002 have been sold. Furthermore, all the retail space is leased out with the exception of one outlet on the piazza. The press release also noted that the next phase (namely the residential block known as T17 East), is currently under construction and will be released for sale shortly. A ‘show apartment’ is expected to be completed by autumn. Subsequently, MIDI will be developing a business centre comprising 14,000 square metres of office space.
  • RS2 Software plc continued to ease following the strong rally of last week. Volumes were also weak with only 334 shares changing hands today at €1.72, representing a 0.6% decline from last Friday’s close. Last week, RS2 reported a record net profit of €3.7 million as it accounted for part of the recently announced licence agreement with a leading European bank worth GBP8.5 million. The results also included the initial contribution from the newly set up subsidiary, RS2 Smart Processing Ltd which generated €0.38 million in revenues between April and June. In the commentary, the Directors noted that the company is in discussions for further licence sales and processing services.

 

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