Daily Market Highlights (27.04.12)

  • The MSE Share Index edged 0.2% lower to 2,960.694 points as the downward movements by HSBC Bank Malta plc outweighed the increase in the share price of Simonds Farsons Cisk. The Index closed 1.3% higher this week following a 10.8% rise in the share price of International Hotel Investments plc. Download a copy of the Equity Market Summary.
  • HSBC Bank Malta plc shed 0.8% to drop back to its 2012 low. Today HSBC distributed its final gross divided of €0.072 per share.
  • The equity of Bank of Valletta plc remained inactive as the market awaited the publication of the interim results which were published shortly after the close of the trading. BOV reported a 9% increase in pre-tax profits to €49.1 million. The Board of Directors declared a gross interim dividend of €0.06 per share (8% above last year’s interim) payable to those shareholders as at close of trading on Monday 7 May. Further details available here.
  • Following yesterday’s 2.8% increase, the share price of Simonds Farsons Cisk plc edged a further 0.6% higher to end the week at a 2012 high price of €1.83. During the week the equity gained 3.4% following the publication of the record financial performance for year ended January 2012 on Wednesday afternoon. The Farsons Group announced a net final dividend to €0.0567 per share to all shareholders as at close of trading on 17 May. Further details available here.
  • RS2 Software plc was active for the first time since the publication of the 2011 full-year results two weeks ago. RS2’s share price closed unchanged at the €0.55 level. On 13 April, the IT Company reported a 17.2% rise in revenue to a record €8.8 million which led to a 46.8% rise in pre-tax profits to €2.4 million. Despite the improved profitability, the Directors did not recommended a dividend in view of the planned investment particularly in the new premises in Mosta for the provision of new services, namely transaction processing and managed services. On the other hand, the Directors proposed a 1 for 15 bonus share issue to all shareholders as at close of trading on 8 May.
  • MaltaPost plc also ended the day unchanged at the €0.96 level after 2,404 shares changed hands. Further shares are on offer at the last traded price.
  • The best performer of the week was International Hotel Investments plc with an increase of 10.8% to €0.82 following Monday’s company announcement. IHI revealed that it will be inviting a number of potential investors consisting primarily of sovereign funds and other institutions, to participate in the subscription of new shares through a private placement.
  • On the bond market, the Rizzo Farrugia MGS Index advanced to 987.133 points as the Central Bank of Malta raised the Malta Government Stock bid prices following a renewed drop in Eurozone yields brought about by the two notch downgrade of Spain to BBB+ by the rating agency Standard & Poor’s.