Daily Market Highlights (04.05.10)

  • Local equity market in positive territory for the third consecutive session. MSE Share Index climbs a further 0.2% to 3,562.469 points as HSBC, IHI, GO, Medserv and MaltaPost trade higher, offsetting the 1.4% decline in BOV. Meanwhile MIA, Lombard and Middlesea close unchanged. Download a copy of today’s Equity Market Summary.
  • BOV’s share price retreats by 1.4% back to the €3.45 level on some profit taking. Lower volumes of just over 9,200 shares change hands today with further offers remaining unsatisfied at the closing price. Last Friday, the Bank published its 2010 Half-Year results revealing a pre-tax profit of €47.5 million, substantially higher than the €6.3 million recorded in the comparative 6-month period to 31 March 2009. The Directors declared a gross interim dividend of €0.075 (net: €0.049) per share to shareholders as at close of trading on Friday 7 May 2010. This dividend will be paid on 28 May 2010. Further details available here.
  • Meanwhile HSBC edges marginally higher to close at €3.064 on increased volumes of over 34,000 shares. Best bids now pitched at the €3.05 level whilst lowest offers in the market at the €3.07 level.
  • Renewed demand for IHI shares helps the equity jump a further 2.4% to regain its 2010 high of €0.85. Six trades amounting to 18,781 shares executed today with best bids now in the market at €0.84 whilst lowest offers pitched at the €0.895 level. Recently the IHI Group published its 2009 full-year results showing a 19.3% drop in turnover to €103.3 million as a consequence of the slowdown in the hospitality industry witnessed during the year which was somewhat contained through the Group’s geographical diversification of its property portfolio. The Group incurred a pre-tax loss of €1.6 million compared to the pre-tax profit of €22.3 million registered in 2008. Similar to previous years the Directors did not recommend the payment of a dividend. Further details available here.
  • GO recovers some of its recent declines as the share price edges 0.5% higher to close at the €2.12 level. Over 28,000 shares trade today with best bids now at €2.10 whilst lowest offers outstanding at the €2.165 level. The telecoms Group is scheduled to hold its Annual General Meeting on 17 May.
  • A single trade of 1,000 Medserv shares transacted at the €4.28 level representing an increase of 0.9% over the previous close. No bids or offers in sight. The 2009 full-year results of the Medserv Group show a record pre-tax profit of €3.1 million as turnover grew by 12.6% to €17.5 million. Profits attributable to shareholders of €2.3 million give an earnings per share of €0.233. The Group’s net asset value rose by 27.1% to €0.89 per share. Further details on results and 2010 outlook available here.
  • MaltaPost edges minimally higher to regain the 2010 high of €0.85 on volumes of over 12,500 shares. Lowest offers now at the €0.855 level. The postal operator is scheduled to publish its half-year results on 13 May.
  • MIA, Middlesea and Lombard all close unchanged. The airport operator closes at the €3.20 level on volumes of 16,435 shares. Middlesea and Lombard trade unchanged at €0.70 and €2.945 respectively.

Comments are closed.