Daily Market Highlights (14.06.11)

  • Various equities active today as the MSE Share Index retreated by 0.3% to 3,365.023 points. Declines in BOV, FIMBank, Grand Harbour Marina and Crimsonwing outweighed the marginal increases in the share prices of MIDI and RS2 Software. Rizzo, Farrugia MGS Index also eased 0.2% lower to 975.108 points as the benchmark Eurozone yields marginally recovered to move closer to the 3% level. Download a copy of today’s Equity Market Summary.
  • During its third Annual General Meeting held this morning, RS2 Software Chairman Mr Reinhold Schäffter announced that with effect from January 2012 he will be succeeded by the current CEO Mr Mario Schembri which in turn will be replaced by Mr Radi El Haj. The latter has been with the company for the past fifteen years and currently heads the business development team. Also during this morning’s meeting, shareholders approved all the items on the agenda including the net dividend of €0.032 per share which will be paid tomorrow. On the secondary market, the equity of RS2 edged minimally higher to regain the €0.50 level across eight trades totalling 45,000 shares.
  • Also in the IT sector, Crimsonwing shares traded for the first time in almost two months. 15,000 shares changed hands with the share price easing 0.8% to a new 18-month low of €0.366. The IT Company is expected to publish its accounts for the financial year ended 31 March 2011 by the end of July.
  • BOV’s share price drops 1.1% to €2.719 across seven trades totalling 10,237 shares. Best bids in the market at €2.70 whilst lowest offers now pitched at the €2.72 level. Meanwhile HSBC’s shares remained inactive during this morning’s session.
  • A small deal of 102 FIMBank shares transacted at a fresh multi-year low of US$0.77, representing a 3.8% drop from the previous close. Other bids unsatisfied at the closing price whilst lowest offers placed at the US$0.80 level. The trade finance specialist is scheduled to publish its half-year results on 10 August.
  • Low volumes of 3,000 Grand Harbour Marina shares traded today with the share price dipping 0.6% to the €1.968 level. The company is scheduled to hold its Annual General Meeting on 28 June.
  • MIDI’s share price edged 1.2% higher to regain the €0.44 level but offers are already placed minimally lower at the €0.439 level. Three trades affected this morning amounting to 30,000 shares.
  • No movement in the share prices of GO, Plaza and MaltaPost.