Daily Market Highlights (13.08.2010)

  • MSE Share Index down 0.6% today as the two large caps BOV and HSBC close today’s trading session in negative territory. Meanwhile the rest of the active equities – IHI, GO and Middlesea – close unchanged. Following the declines in HSBC’s and BOV’s share price, the two equities end the week lower. However, yesterday’s 7% jump in IHI’s share price has helped the index close the week up 0.6% at 3,507.626 points. Download a copy of today’s Equity Market Summary .
  • BOV’s share price reversed all of this week’s gains as it fell back to the €3.26 level during the dying minutes of today’s session. The equity touched an intra-day high of €3.301 before closing 1.2% lower at €3.26. Lowest offers available at €3.35 with further bids pitched at the closing level.
  • HSBC continued its downward trend as the equity sheds a further 0.9% this morning to close at €2.97 on volumes of 6,385 shares. HSBC’s share price has clipped 1% over the past week on continued subdued volumes.
  • IHI’s share price holds on to yesterday’s gains as a further 26,291 shares are exchanged at the 2010 high of €0.90. Offers totalling 4,961 shares available below the closing price at €0.899 whilst highest bids are pitched at €0.856. On Wednesday, IHI’s management subsidiary CHI Hotels and Resorts announced that it concluded a 15-year agreement to operate a second hotel in Sharm El Sheikh, Egypt as from 1 October 2010. Further details available here.
  • Muted reacted to half-year results announcement by Middlesea Insurance. Equity unchanged at €1.03 on a single trade of just 500 shares. Yesterday afternoon the Middlesea Group returned to a profitable position as it reported a half-year profit of €3.22 million. Total equity as at 30 June 2010 of €51.42 million translates into a net asset value per share of €0.559. Further details available here.
  • GO’s share price also unchanged at €1.90 as 3,000 shares are exchanged across 5 trades. GO’s interim results expected to be published on 31 August.
  • On Tuesday 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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