Daily Market Highlights (26.04.2010)

  • MSE Share Index regains the 3,500-point level after edging 0.77% higher to 3,518.173 points as the two major banks close in positive territory. Moreover RS2 reverses last week’s declines whilst MaltaPost falls back to the €0.80 level. The remaining active equities (Lombard, Middlesea Insurance, FIMBank and GO) close unchanged. Download a copy of today’s Equity Market Summary.
  • BOV share price up 2.1% today to close at a 2-month high of €3.40 on increased demand ahead of the March 2010 interim results publication due next Friday 30 April. Just over 20,000 shares exchanged across 20 trades with lowest offers now placed at the €3.45 level.
  • HSBC’s share price also on the rise with a 1% gain to €3.08 on volumes of 10,209 shares. Further offers outstanding at the closing price with highest bids at €3.05.
  • MaltaPost reverses last Friday’s gains as the share price drops 2.4% to €0.80 on low volumes totalling 4,000 shares. The postal operator is due to report its financial results for the six months ended 31 March 2010 on 13 May.
  • Lombard’s share price closes unchanged at €2.93 on a single 500-share trade. Equity is now 7.6% below its 2010 high of €3.17 recorded on 8 January. Last week the Bank held its Annual General Meeting during which shareholders approved all the resolutions on the agenda including the gross dividend of €0.10 per share and the changes to the memorandum and articles of association. Further offers available at the closing price.
  • Meanwhile RS2 Software edges 0.2% above its all-time low of €0.479 as the equity traded for the first time since last week’s 2009 full-year results publication. The software company recently reported a substantial drop in pre-tax profits to €431,247 during 2009 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.
  • Middlesea trades this morning for the first time in over a week. 3,100 shares exchanged at €0.70 ahead of the 2009 full-Year results which will be published tomorrow.
  • GO opens 3.3% lower at €2.099 but the share price recovers towards the end of the session to close unchanged at €2.17 on volumes of 12,800 shares.
  • The online media reported that Grand Harbour Marina plc and its majority shareholder Camper & Nicholson’s Marina Investments Limited submitted a tender for a 50-year concession for the redevelopment and operation of the Rhodes Mandraki marina in Rhodes.

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