Daily Market Highlights (20.08.2010)

  • The MSE Share Index edges 0.02% lower to close the week at 3,473.532 points after index heavy-weight IHI declines by 1.1%. On the other hand, FIMBank advances to the US$1.00 level whilst BOV recovers to €3.26. The rest of the active equities (HSBC, GO, MIA and MaltaPost) close unchanged. Download a copy of today’s Equity Market Summary .
  • BOV gains 0.3% to close the week at €3.26. Just 7,458 shares are exchanged over 7 trades this morning. Further offers of 5,113 at the €3.27 level whilst highest bids are pitched at €3.26.
  • Meanwhile, HSBC trades unchanged at €2.90 over a single 1,000-share transaction. A further 4,000 shares are on offer at this level however bids are placed at €2.86. HSBC’s interim dividend is expected to be paid on 24 August.
  • FIMBank rises by 3.1% to reach the US$1.00 level over just 173 shares exchanged. Over 10,000 shares remain on offer in the market at the closing price whilst bids are pitched at US$0.95. Recently the trade finance specialist issued its 2010 interim results revealing a 16.1% increase in after-tax profits to US$3.39 million. Further details on results available here.
  • IHI declines by 1.1% to close the week at €0.89 over a single transaction (5,000 shares). Further 5,000 shares on offer at this level. IHI will be convening an Extraordinary General Meeting next Friday 27 August for shareholders to approve a 4% bonus share issue and a buy-back option by the company at the €1 level.
  • Island Hotels Group Holdings equity trades for the first time in over a month and sheds 0.3% to close at €0.997. Last Friday, IHG announced that it signed an agreement with Saga Travel Group to extend their relationship at The Coastline Hotel in Salina Bay for a further two years beyond the current agreement which comes to an end in June 2011.
  • MIA shares trade unchanged at €1.58 over 6 trades totalling 13,753 shares. Offers still available at the €1.58 level however highest bids are placed at €1.575. Ryanair yesterday announced a new service between Malta and Eindhoven commencing on 31 October 2010.
  • MaltaPost also trades unchanged at €0.82 over a solitary trade (1,000 shares). Lowest offers placed at €0.90. Meanwhile GO’s share price also closed unchanged at €1.90 on weak volumes of 6,000 shares.

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