Daily Market Highlights (11.08.10)

  • Local equity market again in negative territory. MSE Share Index declines marginally to 3,487.963 points as the declines registered in MIA and Middlesea offset the gains in BOV and FIMBank. Download a copy of today’s Equity Market Summary.
  • BOV’s share price continues to trade between the €3.28 and the €3.30 level. Following yesterday’s 0.6% decline to €3.28, this morning the equity bounced back to close at the 3.299 level. Increased volumes of over 26,200 shares with best bids now at €3.26 whilst lowest offers pitched at the €3.30 level.
  • Meanwhile HSBC inactive today with best bids at the €2.981 level and lowest offers placed at the last closing price of €2.999. The bank will pay the recently declared net interim dividend of €0.051 per share on 24 August.
  • Strong volumes in FIMBank amounting to 264,524 shares. Share price recovers some of the recent declines as it edges 3.2% higher to close at the €US$0.98 level. Recently the trade finance specialist issued its 2010 interim results revealing a 16.1% increase in after-tax profits to US$3.39 million. Further details on results available here.
  • On the negative side, Middlesea Insurance shed 6.4% to €1.03 ahead of the interim results publication tomorrow. Just over 6,000 shares exchanged today with further bids unsatisfied at the last traded price whilst lowest offers pitched at the €1.10 level.
  • MIA also down 0.6% to €1.61 on volumes of 3,000 shares. Yesterday the airport operator announced that as from January 2011, International Airport Advertising Corporation Ltd will be taking over the advertising programme on MIA’s premises. Further details available here.
  • Yesterday evening, RS2 Software plc published its 2010 interim results. The financial statements show a 6% increase in revenues to €2.8 million resulting in a 41.4% jump in profit after tax to €286,708. Similar to last year the Directors did not declare an interim dividend. Further details of results and copy of interim report available here.

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