Daily Market Highlights (24.08.10)

  • Local equity market back into negative territory as the MSE Share Index declines by 0.3% to 3,472.461 points. BOV, HSBC and GO all close lower. Meanwhile Lombard closes unchanged ahead of the half-year results announcement. Thin trades persist as investors still focus on bond markets. Download a copy of today’s Equity Market Summary.
  • High volumes exchanged in the 5.25% MGS 2030 (I) and the recently listed fungible issue. A total of €3.97 million (nominal) traded in these two stocks with a value of over €4.1 million. In general, Malta Government Stock prices continued to rise with some hitting new highs in line with the low yields in the eurozone.
  • BOV share price slips 0.6% lower to the €3.25 level across twelve trades totalling 10,304 shares. Best bids still in the market at €3.24 whilst lowest offers now pitched at the €3.30 level.
  • HSBC also reverses yesterday’s increase to drop back to the €2.90 level on volumes of 6,780 shares. Few other offers remain unsatisfied at the closing price whilst best bids now placed at the €2.88 level. Today HSBC paid out the interim dividend of €0.051 per share.
  • GO’s share price retreats ahead of interim results publication on Tuesday 31 August. A single trade of 2,430 shares transacted at the €1.87 level, representing a 1.5% decline from the previous close. Few other bids unsatisfied at the closing price with lowest offers now placed at the €1.889 level.
  • Lombard Bank closed unchanged at the €2.80 level on volumes of 2,130 shares. The Lombard Group published its 2010 interim accounts following the closure of the trading session. The results show a 6.6% increase in profits attributable to shareholders of €3.9 million mainly due to the 18.6% growth in net interest income to €8.2 million as deposits re-priced in line with the current low interest rate environment. Similarly to the previous year, the Directors did not declare an interim dividend. Further details available here.
  • Interim results announcements to pick up momentum in the coming days with GHM, 6pm, GlobalCapital, IHI, GO and Medserv all expected to come out with their respective results by the end of August.

Comments are closed.