Lombard Bank’s equity up 9.6% to €2.85

The MSE Share Index closed 0.3% higher today to a new 12-month high of 3,887.348 points on gains in the smaller capitalised financial services equities. The top performer today was Lombard Bank Malta plc whose share price quickly recovered from yesterday’s 5.5% drop. Lombard‘s equity jumped 9.6% to regain the €2.85 level across five trades amounting to 15,729 shares. Lombard is due to publish its 2010 full-year results on 10 March.

Similarly the share price of FIMBank plc recovered by 3.7% to regain the US$0.975 level although only 660 shares traded today with Middlesea Insurance plc also in positive territory as its share price edged 1% higher to reach the €1.02 level on volumes of just over 7,300 shares.

Meanwhile further selling pressure in Bank of Valletta plc forced the equity marginally lower for the third successive session. BOV’s share price dropped another 0.3% to the €3.13 level across fourteen trades totalling just over 17,000 shares.

HSBC Bank Malta plc again failed to hold on to an intra-day high of €3.54 to close unchanged at the €3.53 level. 6,425 shares changed hands today as investors await the publication of the Bank’s 2010 full-year results due in the coming weeks.

On the other hand, high trading activity took place in International Hotel Investments plc. Over 117,000 IHI shares traded today at the €0.97 level. Malta International Airport plc also maintained its multi-year high of €1.83 across four trades totalling 5,171 shares.

The other active equity, GO plc, held on to its previous close of €1.929 after recovering from an intraday low of €1.90. Six trades amounting to 11,750 shares were transacted this morning with further offers unsatisfied at the closing price. Forgendo (GO’s joint-venture with EITL) continued to acquire further Forthnet shares on the Athens Stock Exchange bringing its equity stake to 41.21%.

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