Daily Market Highlights (22.04.10)

  • MSE Share Index rises by 0.3% during this morning’s session to regain the 3,500-point level as HSBC and BOV recover some of their recent declines. Meanwhile MaltaPost trades lower whilst IHI and Medserv closes unchanged. Download a copy of today’s Equity Market Summary.
  • HSBC edges 0.3% higher to close at the €3.09 level on low volumes of 3,490 shares. Best bids now placed at €3.06 whilst further offers remain unsatisfied at the closing price.
  • BOV also trades 0.8% higher to regain the €3.325 level on four trades amounting to just 2,357 shares. Few other offers outstanding at the last traded price whilst best bids now pitched at the €3.30 level. The Bank is scheduled to publish its March 2010 interim results on Friday 30 April.
  • Medserv closes unchanged at the €4.30 level despite trading ex-dividend. Four trades totalling 36,000 shares executed today with best bids now placed at the €4.15 level whilst no shares are placed on offer. The 2009 results, published two weeks ago, showed that the Medserv Group achieved a record pre-tax profit of €3.1 million as turnover grew by 12.6% to €17.5 million. The Annual General Meeting is scheduled to be held on 18 May. View article on Medserv published on Times of Malta today here.
  • A single trade of 2,982 IHI shares transacted at the €0.80 level, unchanged from the previous close. Best bids already placed marginally higher at €0.801 with lowest offers still in the market at the €0.85 level. Recently the IHI Group published its 2009 full-year results showing a 19.3% drop in turnover to €103.3 million as a consequence of the slowdown in the hospitality industry witnessed during the year which was somewhat contained through the Group’s geographical diversification of its property portfolio. The Group incurred a pre-tax loss of €1.6 million compared to the pre-tax profit of €22.3 million registered in 2008. Similar to previous years the Directors did not recommend the payment of a dividend. Further details available here.
  • Meanwhile MaltaPost retreats 1.7% back to the €0.805 level on single trade of 2,000 shares. The postal operator is expected to publish its financial results for the six months ended 31 March 2010 on 13 May.
  • On the IT front, the financial results of 6pm and RS2 Software fail to generate any trades in the respective shares. 6pm 2009 results show an improved level of profitability to GBP150,265 pre-tax compared to the pre-tax profit of GBP55,842 recorded in the previous year as cost savings outweighed the drop in revenue. Further details available here.
  • Meanwhile RS2 Software reported a substantial drop in pre-tax profits to €431,247 compared to the 2008 pre-tax profit of €2.9 million due to a combination of lower Comprehensive Package Agreements (CPAs), licence sales as well as increased costs. Nonetheless the Directors recommended the payment of a final net dividend of €0.022 per share subject to approval by shareholders at the next Annual General Meeting to be held on 14 June. Further details available here.

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