BOV regains the €3.70 level

During this morning’s trading session on the Borza, Bank of Valletta plc’s share price recouped last week’s 0.5% drop to regain the €3.70 level. Just over 15,000 shares were transacted today with few offers remaining unsatisfied at the €3.70 level. Meanwhile HSBC Bank Malta plc recovered from an intra-day low of €2.881 to close unchanged at the €2.89 level on volumes of 27,000 shares.

GO plc reversed yesterday’s 0.5% rise to drop back to the €1.90 level across three trades totalling 6,000 shares. Forthnet yesterday confirmed that the 7.3 million shares acquired by Cyrte Investments GP I B.V increased its stake from 10.28% to 14.98% making it the second largest shareholder in the Greek telecoms Group after Forgendo. Moreover this morning, Forthnet announced that discussions with Hellas On Line S.A. seeking ways of potential cooperation have been terminated. Through this announcement Forthnet ended recent media speculation that the two entities may merge.

High trading activity continued to take place in the US Dollar denominated equity of FIMBank plc. Over 72,000 FIMBank shares traded today helping the equity maintain yesterday’s gains at the US$0.95 level.

Yesterday, Crimsonwing plc published its interim results covering the six months ended 30 September 2010. The financial statements show a 17% increase in Group revenues to a record €7.1 million and a 34.6% growth in EBITDA to €542,617. As a result pre-tax profits rose 91.1% to €293,272 over the comparative period. The Directors explained that although the overall Group performance is good, the situation in the Netherlands remains challenging. Further details available at https://rizzofarrugia.com/news-events/2010/half-year-results-2/.

On the bond market, the two new recently issued Malta Government Stocks were yesterday admitted to the Official List of the Malta Stock Exchange. No trades took place in the 3.75% MGS 2015 (VI) FID whilst a single trade of €2,300 (nominal) was effected in the 5.25% MGS 2030 (I) FIB at 103.5% representing a 200 basis points premium to the recent offer price of 101.5%.

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