The increased trading activity across the equity market seen in recent days continued during this morning’s session with encouraging volumes across the 8 active equities. Lombard Bank’s equity experienced the highest trading activity today as a total of 64,892 shares changed hands for a value of €177,420. Lombard Bank’s share price eased 0.4% lower to the €2.73 level.
The share price of International Hotel Investments plc advanced by 2.6% this morning to close at an 8-month high of €0.84 (+7.7% above last Friday’s close). Meanwhile, Bank of Valletta plc held on to the gains registered in the early part of the week. BOV’s equity closed the week 2.5% higher at the €2.50 level despite trading without the entitlement to the final dividend.
The top performer of the day was Crimsonwing plc as its share price surged by 16.7% to €0.35. Crimsonwing is shortly expected to publish its interim financial statements for the six months ended 30 September 2011.
Medserv’s share price responded positively to this week’s announcements. The equity advanced by 2.9% to €3.95 following the declaration of a net interim dividend of €0.03 per share and the announcement that Medserv is due to register a profit for the second half of the current financial year following renewed demand for the Company’s services. Medserv also reported progress in its strategy of expanding into Cyprus and Italy.
GO’s share price initially dropped back to the €1.02 level on a single trade of 29,500 shares but jumped to a close of €1.06 on low volumes. Yesterday’s afternoon the Greek company Forthnet published its Q3 financial results. During the summer months, revenue edged marginally higher to €102.3 million while earnings before interest, taxation, depreciation and amortization (EBITDA) increased by almost 21% to €20.2 million.
The gains registered in the share prices of four of the largest equities helped the MSE Share Index advance by 2.5% this week to 3,157.427 points.
Later on this afternoon, the Treasury is expected to announce the results of this week’s new Malta Government Stock issues.