Daily Market Highlights (18.08.09)

  • Trading activity contracts in the two big banking equities. MSE Share Index slips 0.3% to 3,067.486 points as HSBC and RS2 Software trade lower. Meanwhile BOV, Lombard and Medserv all close unchanged. Download the latest Equity Market Summary .
  • Various local corporate bonds again active today with prices generally closing unchanged. Marginal changes in the indicative Malta Government Stock bid prices as eurozone yields hover around the 3.30% level.
  • Lack of support for HSBC shares forces the equity to drop 0.7% back to the €2.68 level. Very low volumes of just 570 shares traded today with only a few other bids remaining unsatisfied at the closing whilst lowest offers still in the market at the €2.70 level.
  • Meanwhile a further 5,033 BOV shares trade unchanged at the €2.90 level. Shortage of bids and offers around the closing price with more meaningful bids at €2.80 and offers around the €3.00 level.
  • Lombard Bank also trades unchanged at the €2.55 level on volumes of 15,692 shares. The Bank is expected to publish its interim results next Tuesday 25 August.
  • Medserv closes unchanged at the €3.50 level as equity returns to activity since 28 July. Further bids outstanding at the closing price with lowest offers still placed at the €3.54 level.
  • RS2 Software slumps 4.6% to a fresh all time low of €0.62 ahead of the interim results due to be published later on today. Just under 9,500 shares change hands today with best bids in the market at €0.60 whilst further offers remain unsatisfied at the closing price
  • Last Thursday FIMBank published its half-year results showing a pre-tax profit of US$2.4 million. In the first six months of 2008 the trade finance bank had recorded a profit of US$34 million but this was boosted by the US$29.2 million gain on sale of its shareholding in the factoring company in India Global Trade Finance Limited (GTF) as well as the share of profits from this associate company which have not been repeated in 2009. The Directors stated that the outlook for the second half of the year is one of increased business activity and improved profitability. Further details of results available here. Equity remains inactive with few bids in the market at US$1.28 whilst lowest offers placed at the last closing price of US$1.289.

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