Daily Market Highlights (30.08.11)

  • MSE Share Index eased minimally lower today to close at 3,080.660 points as BOV’s 0.4% drop offset the positive performances of RS2 Software, Lombard Bank and MaltaPost. Meanwhile the only other active equity, HSBC, closed unchanged. RS2 Software, 6pm Holdings and MIDI all published their respective 2011 interim results between yesterday evening and this afternoon, details of which are available below. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% lower to 988.583 points as the benchmark Eurozone yields recovered slightly. Over €3 million (nominal) of Malta Government Stocks changed hands today.
  • RS2 Software yesterday evening issued its 2011 half-year results showing a substantial increase in pre-tax profits to €1.6 million. This was mainly due to the 67% rise in revenue to €4.7 million (the highest 6-month revenue figure since the first six months of 2008) on the back of increased licence sales which have already exceeded the Directors’ expectations for the whole of 2011. Further details available here. On the secondary market, fresh bids lifted the equity 5.3% higher to a new 20-month high of €0.579 across three trades totalling 8,700 shares.
  • This morning, 6pm Holdings plc also issued its 2011 half-year results revealing an increased loss of GBP343,314 despite a 20.6% increase in revenue to GBP2.1 million. The Directors explained that the increase in the loss was mainly due to the costs of the rights issue which amounted to GBP 132,190. The Directors also stated that it is now fully focused towards achieving the results outlined in the overall strategic business plan prepared in 2010. Further details available here. No trades effected in 6pm’s shares with no bids in sight and offers already placed minimally below the last closing price of GBP0.32.
  • MIDI plc followed suit this afternoon when it posted its 2011 interim report revealing an improvement in pre-tax profits to €1.79 million (June 2010: €0.84 million). This rise in profitability was due to the €13.5 million increase in revenue to €22.6 million mainly arising from the delivery of 23 apartments to owners in the block referred to as T10. MIDI also benefitted from the full six months of operations of the ‘The Point’ shopping mall and the underlying car park.
  • BOV’s equity initially moved into positive territory this morning as it touched an intra-day high of €2.531 but subsequently slipped back to the €2.50 level representing a 0.4% drop from the previous close. Fourteen trades totalling over 13,300 shares transacted today with other bids unsatisfied at the closing price whilst lowest offers still in the market at the €2.58 level.
  • On the other hand, HSBC maintained the €2.66 level on low volumes of 7,500 shares. Best bids still placed at €2.65 with lowest offers at €2.70.
  • A single trade of 400 Lombard Bank Malta plc shares executed this morning at the €2.70 level, 0.8% higher than yesterday’s close.
  • Similarly, MaltaPost’s share price edged 0.9% higher to regain the €0.979 level also on low volumes of 1,700 shares. Few other offers unsatisfied at the closing price whilst best bids now placed substantially lower at the €0.91 level.
  • Medserv and Grand Harbour Marina are scheduled to publish their respective financial statements for the first six months of 2011 later on today. GO will close off the interim reporting season tomorrow.