Daily Market Highlights (16.08.2010)

  • MSE Share Index edges 0.2% lower and closes below the 3,500-point mark as index heavy-weight HSBC drops 1.7% outweighing the 1.2% rise in BOV’s equity. GO and IHI close unchanged. Download a copy of today’s Equity Market Summary.
  • HSBC’s equity continues to decline on lack of support. Share price in negative territory for the second consecutive session. Equity down 1.7% to €2.92 on volumes of 12,450 shares.
  • BOV regains the €3.30 level on low volumes of only 1,280 shares. Share price up 1.2% reversing the losses incurred during Friday’s session. Further shares of offer at the closing level with highest bids pitched at €3.26.
  • IHI continues to trade at its 2010 high of €0.90 as a further 16,341 shares were exchanged at this level. Last Wednesday, IHI’s management company 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. Offers totalling 18,054 shares available at the closing price whilst highest bids are pitched at €0.86.
  • GO’s share price also closed unchanged at €1.90 on weak volumes of 2,395 shares.
  • Equity of Middlesea Insurance fails to trade following last week’s interim results publication. 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. Bids of 12,271 shares remain unsatisfied at the last traded price of €1.03 with lowest offers at €1.149.
  • RS2 Software also inactive following last week’s announcement of the 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. Lowest offers placed in the market at €0.48.

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