Daily Market Highlights (16.04.10)

  • MSE Share Index recovers some of the recent declines during this morning’s session as BOV’s 1.1% rise offsets declines in HSBC, IHI and 6pm Holdings. Meanwhile MaltaPost closes unchanged. Despite today’s rebound, the Index still closes the week 0.9% lower at 3,492.500 points mainly due to HSBC’s 2.2% drop. Download a copy of today’s Equity Market Summary.
  • BOV recoups all of this week’s declines as its share price climbs 1.1% to regain the €3.299 level and closes the week minimally higher. Just over 7,500 shares exchanged today with best bids now placed at €3.272 whilst further offers remain unsatisfied at the closing price. The Bank is shortly expected to announce the date of the half-year results publication.
  • Meanwhile HSBC eases 0.3% lower to drop back to the €3.08 level on volumes of over 5,600 shares. Best bids now placed at €3.03 whilst other offers still in the market at the last traded price. Equity slips 2.2% lower this week following last week’s Annual General Meeting during which shareholders approved all the resolutions on the agenda including the final gross dividend of €0.08 which will be paid on 20 April.
  • IHI closes minimally lower at the €0.80 level as 10,072 shares trade for the first time this week. Yesterday IHI announced its 2009 full-year results showing a 19.3% drop in turnover to €103.3 million as a consequence of the slowdown in the hospitality industry witnessed during the year which was somewhat contained through the Group’s geographical diversification of its property portfolio. Similar to previous years the Directors did not recommend the payment of a dividend. The Directors stated that on the international scene there are now signs of a gradual but slow recovery of the hospitality industry which augurs well for the group’s activities. Further details available here.
  • 6pm shares active for the first time in over a month. The IT company sheds 4% to drop back to the GBP0.48 level on a single trade of just 2,300 shares. 6pm is scheduled to publish its 2009 full-year results next Tuesday 20 April.
  • MaltaPost maintains the €0.80 level on four trades amounting to 10,000 shares. Best bids now placed at the €0.79 level with few other offers outstanding at the close price. The postal operator ranks as the best performing equity of the week with a 4.6% weekly rise.
  • On the bond market, Tumas Investments plc, Simonds Farsons Cisk plc, Eden Finance plc and Mediterranean Investments Holding plc all recently announced their intention to issue new bonds in the coming months subject to approval by the Listing Authority.

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