Daily Market Highlights (25.08.10)

  • MSE Share Index sheds a further 0.2% to close at 3,465.408 points as the declines in the share prices of the two large banks offset the 1.1% increase in GO. Meanwhile Lombard Bank trades unchanged at the €2.80 level. On the bond market, high volumes persist in the 20-year Malta Government Stock. Download a copy of today’s Equity Market Summary.
  • Another €3.9 million (nominal) traded today in the 5.25% MGS 2030 (I) and the recently listed fungible issue. Further gains were registered in the price of this 20-year bond and closed today’s session at 104.25%, just slightly below the all-time high of 104.45%. During the first three trading sessions of this week, substantial volumes of over €11 million traded in the 20-year bonds.
  • HSBC in negative territory for the second consecutive session as its share price eased a further 0.7% to the €2.88 level. Over 5,600 shares change hands today with further bids outstanding at the closing price whilst lowest offers now pitched at the €2.899 level.
  • BOV’s equity eases by another 0.3% to close at the €3.24 level on a thin trade of 500 shares. Other bids in the market at the last traded price whilst lowest offers still placed at the €3.30 level.
  • Meanwhile GO’s share price up 1.1% to regain the €1.89 level across three trades totalling 5,000 shares. The quad play telecom operator is scheduled to report its 2010 interim results on Tuesday 31 August.
  • Lombard Bank unchanged at the €2.80 level on very low volumes of 500 shares. The Lombard Group yesterday published its 2010 interim accounts. 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.
  • 6pm Holdings plc is expected to publish its 2010 half-year results later on today. In the coming days GHM, GlobalCapital, IHI, GO and Medserv are also all expected to come out with their respective interim results.

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