Daily Market Highlights (04.08.10)

  • MSE Share Index rises 0.4% to 3,565.841 points as HSBC, BOV and Plaza traded higher offsetting the 1.4% decline in Lombard Bank. Meanwhile another five equities close the day unchanged. Download a copy of today’s Equity Market Summary.
  • Subscription period for the new Malta Government Stock issues closes this afternoon while tenders for amounts in excess of €100,000 will be accepted until noon on Friday. A total aggregate amount of €100 million is being issued subject to an over-allotment option of up to a further €50 million. The 3.75% MGS 2015 (VI) (FI) s being offered at 102.50% and the 5.25% MGS 2030 (I) (FI) at par (100%). The Treasury is also offering €30 million in a new fungible stock linked to the 6-month Euribor. Copies of application forms available here.
  • HSBC reverses yesterday’s drop as the share price climbs 1.3% higher to regain the €3.06 level on volumes of 8,000 shares. Best bids now placed at €3.04 whilst lowest offers pitched at the €3.08 level. Tomorrow is the last day for investors to gain eligibility to the net interim dividend of €0.051 per share. Last Friday the Bank published its interim results revealing a 21.4% increase in pre-tax profits to €42.2 million on the back of growth in revenues whilst keeping its costs flat. Further details and copy of interim results available here.
  • BOV again reaches an intra-day high of €3.35 before easing back to the €3.345 level representing a 0.2% increase over yesterday’s close. Over 12,400 shares exchanged today with best bids at €3.33 whilst lowest offers in the market at the €3.349 level. In last Friday’s Interim Statement, the Directors explained that during the third quarter of the Bank’s financial year (April – June 2010), the Group’s net interest margin improved further whilst the commission and trading activities remained strong and ahead of expectations. The BOV Group also assured investors that operating expenses remained on track whilst overall credit quality remained satisfactory. However the third quarter saw a reversal of the modest fair value gains reported at the half-year period. The Directors stated that the results for the full-year will be influenced by the outcome of the credit markets in the last quarter. Further details available here.
  • On the other hand, Lombard Bank drops 1.4% to a fresh 2010 low of €2.79 across three trades totalling 20,000 shares. Few other bids outstanding at the closing price whilst lowest offers now placed at the €2.80 level. The bank is expected to report its half-year results on 24 August.
  • Volatile session for MIA on last day to gain entitlement to the interim dividend. Share price eases to an intra-day low of €1.599 before fresh bids lift the equity back to the €1.62 level. 35,000 shares change hands today with further offers remaining unsatisfied at the closing price. Yesterday the airport operator announced a 15.8% increase in passenger movements during July 2010 to a record high of 401,952 passenger movements. As a result the growth in passenger movements during the first seven months of the year now reads 11.5%. The net interim dividend of €0.03 per share will be paid on 15 September. Further details of results available here.
  • Plaza Centres’ share price jumps 7.5% to €1.63 as it traded for the first time since the interim results publication last Wednesday. A single trade of 1,837 shares effected today with further shares on offer at the last traded price. During the first six months of the year, the Company’s turnover increased by 2.3% to €1 million and the company recorded a profit after tax of €416,539 (+0.4). Further details on results available here.
  • GO closes unchanged at the €1.86 level after recovering from an intra-day low of €1.82 across almost 12,000 shares. Further bids outstanding at the closing price whilst lowest offers pitched at the €1.93 level. The telecoms Group still has to announce the date of its interim results publication.

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