Daily Market Highlights (21.03.11)

  • Local equity market moves back into negative territory following last Friday’s upturn. MSE Share Index retreats minimally lower during this morning’s session to 3,494.458 points as HSBC’s 0.7% drop was outweighed by the increases in the share prices of BOV, MIA and GO. The Rizzo Farrugia MGS Index slid a further 0.2% lower today to 977.888 points as the benchmark 10-year Eurozone yield recovered above the 3.2% level. Download a copy of today’s Equity Market Summary.
  • HSBC reversed most of last Friday’s 1% rise as its share price dropped 0.7% to the €2.87 level across six trades totalling 7,235 shares. Further bids outstanding at the closing price whilst lowest offers still placed at the €2.889 level.
  • Meanwhile BOV’s share price closes in positive territory for the fourth successive session. Equity rose another 0.3% to regain the €2.95 level on volumes of just under 12,900 shares. Further offers remain unsatisfied at the last traded price whilst best bids still pitched at the €2.89 level.
  • MIA’s equity also advances by 1.7% to €1.76 on low volumes of 2,800 shares. Last Thursday, MIA published its 2010 preliminary results revealing a 10.5% increase in revenue to €46.5 million on the back of a 12.9% increase in passenger numbers to a record 3.29 million passenger movements. The Directors recommended a final gross dividend of €0.053846 per share (net dividend of €0.035 per share) to those shareholders as at close of trading on 30 March. Further details on results available here.
  • Following last Friday’s 2.4% drop, GO stabilised at the €1.66 level across two trades totalling 3,700 shares. The quad-play telecom operator recently reported a loss for 2010 of €19.2 million as the improved local operations were offset by the substantial share of losses from the Group’s investment in Greece through its joint-venture Forgendo. The Directors recommended a 50% cut in dividends to €0.05 net per share. All shareholders as at close of trading on 4 May will be eligible to this dividend. Further details on results available here.
  • Lombard continues to trade at the €3.01 level as a further 15,858 shares change hands today. Recently, the Bank published its 2010 financial results revealing a 12.9% increase in profit attributable to shareholders after tax to €8.3 million on the back of improved net interest income and non-interest income. The Directors recommended a final gross dividend of €0.115 per share (+15% over last year) to all shareholders as at the close of trading on 24 March. Further details of results available here.
  • FIMBank also traded unchanged at its multi-year low of US$0.90 on increased volumes of 33,857 shares. No bids in sight with lowest offers still placed at the US$0.93 level. On 4 March, FIMBank published its 2010 full-year results showing a significant improvement in profitability from US$2.6 million in 2009 to US$6.7 million in 2010 as the Group cautiously renewed its appetite for business during the year helped by the improvement in emerging market conditions and a steady pick-up in trade flows. The Directors recommended a final net dividend of US$0.0248 per share (2009: US$0.0156) to all shareholders as at closing of trading 25 March. Further details of results available here.
  • The only other active equity, Island Hotels Group Holdings, recovered from an intra-day low of €0.97 to close unchanged at the €0.997 level. Low volumes of 1,500 shares traded today with further offers outstanding at the closing price.