Recovery in HSBC share price gathers momentum

The share price of HSBC Bank Malta plc rose for the third consecutive session this week as investors took positions in this equity ahead of the full-year results publication which generally takes place in late February. HSBC shares climbed a further 2% higher today to regain the €3.10 level on volumes of over 21,000 shares. This is the highest level for the equity since 12 April 2010. Lowest shares on offer are now placed at the €3.15 level.

Meanwhile Bank of Valletta plc remained well supported at the €3.77 level as a further 15,200 shares changed hands during this morning’s session. The Bank is scheduled to hold its Annual General Meeting this afternoon. During the meeting shareholders will be asked to approve a final gross dividend of €0.16 per share (which, if approved by shareholders, will be paid tomorrow) and a 1 for 5 bonus share issue which will be effective next January.

FIMBank plc also closed the day in positive territory as its share price edged 1.1% higher to the US$0.95 level on high volumes of 55,000 shares. Meanwhile Middlesea Insurance plc shed some of its recent gains as the equity dropped 4.3% to the €1.00 level on low volumes of 3,717 shares.

MaltaPost plc yesterday announced that its Board of Directors will be meeting on 5 January to consider and approve the Company’s full-year results as at 30 September 2010. MaltaPost’s equity has been inactive since 6 December when 3,900 shares traded at the €0.93 level. Substantial bids remaining outstanding at the €0.95 level with few shares on offer at €1.00 as investors await the results announcement and the dividend declaration.

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