Daily Market Highlights (24.03.11)

  • The local equity market remains particularly subdued in a difficult and uncertain environment. MSE Share Index sheds 0.1% at 3,484.270 points as the 33.5% slump in GlobalCapital plc offsets the slight increases in the share prices of MIA and Lombard Bank. Download a copy of today’s Equity Market Summary.
  • Further bids for Lombard shares on last day cum-dividend trading session. Equity lifted another 0.5% to reach a one year high of €3.075 price across fourteen trades totalling just over 61,900 shares. 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. Further details of results available here.
  • Increased demand also evident in MIA following the recent announcement of improved profitability. Share price recovered from yesterday’s 1.7% decline to regain the €1.76 level across five trades amounting to 7,371 shares. Further bids remained unsatisfied at the closing price whilst lowest offers now in the market at the €1.78 level.  Equity will continue to trade with the entitlement to the final net dividend of €0.035 per share until next Wednesday 30 March. Further details on results available here. Copy of presentation available for download at https://rizzofarrugia.com/security-quotes/equities/c1460e/
  • Meanwhile, GlobalCapital plc slumps 33.5% to a new 4-month low of €0.998, across six trades of 2,980 shares. GlobalCapital plc announced this morning that its Board Meeting has been rescheduled from today to 20 April 2011.
  • A single trade of 4,000 HSBC shares transacted today at the €2.90 level, unchanged from the previous close. Meanwhile, BOV shares inactive today with bids already placed marginally higher than the last closing price of €2.90 whilst lowest offers placed at the €2.94 level.
  • This afternoon, International Hotel Investments plc announced that its Board of Directors is scheduled to meet on 30 March to consider and approve the Group’s 2010 results.