Daily Market Highlights (09.08.10)

  • MSE Share Index marginally recovers from last week’s 1.3% drop. Index edges 0.2% higher as increases in the share prices of BOV and Middlesea offset the further declines in FIMBank. The other five active equities close unchanged. Download a copy of today’s Equity Market Summary.
  • BOV’s share price up 0.6% to regain the €3.30 level across nine trades totalling 4,840 shares. Best bids now in the market at €3.285 whilst further offers remain unsatisfied at the closing price.
  • Meanwhile HSBC holds on to the €3.00 level on low volumes of 3,330 shares. Offers already placed minimally below the last closing price whilst best bids now pitched at the €2.92 level.
  • FIMBank in negative territory for the second successive session following last Thursday’s interim results publication. The US Dollar denominated equity shed a further 3.1% to drop to yet another new 5-year low of US$0.95 on high volumes of over 100,000 shares. The interim results revealed a 16.4% increase in profit after tax to US$3.39 million mainly due to growth in net fee and commission income as factoring activity picked up. In conclusion the Directors stated that FIMBank’s balance sheet is healthy and growing as is the general pipeline of business. Further details and copy of interim report available here.
  • Middlesea Insurance partly recovers from last week’s 8.3% slump. Share price up 4.8% today to €1.10 on a single trade of 5,319 shares. The Insurance Group is scheduled to report its interim results next Thursday 12 August.
  • Single trades also executed in GO, Medserv and Grand Harbour Marina with all three equities closing unchanged.
  • MIA also unchanged at the €1.62 level on volumes of 4,000 shares.
  • Last Friday the Treasury published the statistics with respect to the new Malta Government Stock issues. Details of the statistics available here.

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