Daily Market Highlights (26.08.10)

  • Local equity market back into positive territory. MSE Share Index up 0.3% today to 3,476.994 points on gains by the two large banks. Meanwhile the only other active equity, MIA, closed unchanged. Bond market rally continues with further high volumes exchanged in the Malta Government Stocks maturing in 2030. Download a copy of today’s Equity Market Summary.
  • A further €1.76 million (nominal) traded today in the 20-year Malta Government Stocks. The price of this 20-year bond reached a new all-time high of 104.50% before easing back to the 104.45% level as the Central Bank of Malta lowered its bid price during the course of the trading session.
  • HSBC recovered some of its recent declines as its share price moved 0.7% higher to the €2.899 level across two trades amounting to only 700 shares. Further offers remained unsatisfied at the closing price.
  • BOV also in positive territory as the equity rose 0.6% to €3.26 on volumes of just over 6,000 shares. Best bids now placed at €3.25 whilst lowest offers pitched at the €3.27 level.
  • MIA’s share price unchanged at €1.55 on encouraging volumes totalling 25,800 shares. Lowest offers now placed at the €1.62 level. Interim dividend of €0.03 per share expected to be paid on 15 September
  • This afternoon 6pm Holdings issued its 2010 half-year results. The financials show a GBP218,909 loss as the Group was adversely hit by the uncertainty surrounding the UK elections and the European debt crisis. The Directors are hopeful that the new contracts concluded in the private sector should help the Group recover in the second half of the year. No interim dividend was declared. Further details on results available here. Equity inactive since 24 May 2010 with best bids at GBP0.35 whilst lowest offers pitched at the GBP0.50 level, 5.7% lower than the last closing price.
  • On Tuesday, the Lombard Group 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.
  • GlobalCapital and GHM are due to publish their half-year accounts be end of this week. IHI, GO and Medserv to follow suit by next Tuesday 31 August.

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