Daily Market Highlights (17.04.12)

  • MSE Share Index up 0.2% during this morning’s session to 2,928.227 points following increases in the share prices of GO and MaltaPost. Meanwhile the other four active equities, including HSBC and BOV, end the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to 983.525 points as benchmark yields recovered. Eurozone yields this afternoon touched 1.77% as concerns over Spain’s rising debt were offset by a surprise improvement in German sentiment.
  • High volumes traded in MaltaPost with just over 110,306 shares changing hands during this morning’s session. Share price advances by 3.2% to regain the €0.96 level with lowest offers in the market at €0.98 and highest outstanding bids at the €0.91 level. By mid-May, the postal operator generally publishes its half-year results covering the six-months ended 31 March.
  • GO’s equity recovered from an intra-day low of €0.751 to also close this morning’s session at the €0.799 level, 3.8% higher than the previous close. Four trades totalling 13,500 shares transacted today with best bids outstanding at €0.75 and lowest offers at the €0.80 level. GO is scheduled to hold its Annual General Meeting on 9 May.
  • Meanwhile almost 17,500 BOV shares traded at the €2.10 level – unchanged from yesterday’s close. Other bids remaining unsatisfied at the closing price with lowest offers now at the €2.14 level. BOV will be publishing its 31 March 2012 interim results on Friday 27 April.
  • Similarly, HSBC’s share price unchanged today at the €2.50 level on low volumes of 1,740 shares. Best bids in the market at €2.48 and lowest offers at the €2.537 level. The Bank is scheduled to hold its Annual General Meeting tomorrow evening.
  • RS2 Software remained inactive despite last Friday’s announcement. The 2011 full-year results publication by RS2 Software plc which revealed a 17.2% rise in revenue to a record €8.8 million which led to a 46.8% rise in pre-tax to €2.4 million. Despite the improved profitability, the Directors did not recommend a final dividend (for the first time since the 2008 IPO) in view of the planned investment particularly in the new premises in Mosta relating to the provision of new services, namely transaction processing and managed services. On the other hand, the Directors proposed a 1 for 15 bonus share issue to all shareholders as at close of trading on 8 May. Further details of results available here.
  • This afternoon, 6pm Holdings plc announced that its Board of Directors approved the 2011 full-year results. Furthermore, the announcement revealed that for the fourth consecutive year, the Directors resolved not to recommend a final dividend following a further pre-tax loss of GBP563,261. However, 6pm also proposed a 1 for 25 bonus share issue to all shareholders as at close of trading on Thursday 26 April.