MaltaPost supported at the €1.00 level on high volumes

Unusually high volumes amounting to over 140,000 shares traded in MaltaPost plc during this morning’s session. Share price maintained the €1.00 level with lowest offers now placed at the €1.07 level. Recently the postal operator revealed a 7% rise in net profit to €2.1 million during the financial year ended 30 September 2010. The Directors also recommended a final net dividend of €0.04 per share. The 2010 Annual Report, distributed this weekend, also revealed that the Board approved the acquisition of the Company’s Head Office in Marsa and another building in central Valletta to host Malta’s first Postal Museum.

Contrasting performances in the two big banking equities. HSBC Bank Malta plc moved 0.8% higher to €3.528 on low volumes of 3,000 shares. Meanwhile Bank of Valletta plc eased 0.3% back to the €3.14 level across 20 trades amounting to over 20,400 shares. Investors now await the publication of BOV’s interim Directors’ statement (generally by the end of January) and the 2010 full-year results of HSBC (generally issued by the end of February).

The other three active equities unchanged. 3,100 GO plc shares changed hands at €1.94 with a further 13,000 shares on offer at this level. Middlesea Insurance plc held on to the €1.05 level across 2,605 shares whilst a single trade of 1,700 Malta International Airport plc transacted at the €1.67 level.

Overall the Malta Stock Exchange Share Index today climbed 0.2% to 3,876.567 points whilst the Rizzo Farrugia MGS Index eased 0.1% to 989.257 points.

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