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  • The local equity index edged lower to close at 2,967.136 points as the losses registered in the equities of BOV and Lombard offset gains in FIMBank. Download a copy of the Equity Market Summary here.
  • On the local bond market, the Rizzo Farrugia MGS Index moved higher to 989.024 points as the Central Bank of Malta adjusted most of the indicative bid prices upwards. These movements are in line with the renewed downturn in Eurozone 10-year to 1.412%. The increase in Eurozone benchmark prices came about after German’s Chancellor Angela Merkel opposed the idea of creating Eurobonds, debt issued and backed by the entire Eurozone together.
  • Bank of Valletta’s equity eased a further 1.4% to close at a new 30-month low of €2.05. A total of 11,630 shares changed hands across 8 deals. The bank will pay its gross interim dividend of €0.06 per share tomorrow.
  • The equity of Lombard Bank Malta also retreated by 2.1% to close at a 77-month low of €2.30. A total of 8,925 shares changed hands across 7 deals with lowest offers at €2.319 and highest bids now at €2.251.
  • On the other hand, FIMBank advanced by 4.9% to USD0.85 on increased volumes totalling 60,940 shares across 3 deals. In the interim statement published last Thursday, FIMBank provided an update on its operational performance and announced that the due diligence process by Burgan Bank on FIMBank is progressing but no developments could be reported at this stage.
  • Meanwhile, the equity of the other bank, HSBC Bank Malta, briefly touched a fresh 2012 low of €2.499 level but closed the trading session unchanged at the €2.50 level. A total of 25,540 shares changed hands across 4 deals.
  • The only other active equity was GO. A single trade of 2,500 shares was executed at the previous day’s closing price of €0.86. GO is the only local company that has so far failed to publish its Interim Statement covering developments since the start of the year.
  • Plaza Centres plc will be holding its Annual General Meeting tomorrow when shareholders will be asked to approve the customary resolutions as well as special resolutions related to a change in the nominal value and a subsequent 3-for-1 share split. On Monday Plaza issued its Interim Statement where it revealed that profitability increased while expenses were maintained at a lower level during the first few months of 2012.

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