Daily Market Highlights (31.08.09)

  • Following last week’s 0.7% increase, the MSE Share Index rises a further 0.3% to 3,094.362 points as the renewed interest in the two big banks offset the drop in MIA. Similar to previous sessions, few trades affected this morning. Download a copy of the latest Equity Market Summary.
  • Fresh demand help BOV’s share price to rise to a fresh 2009 high of €3.04. Volumes of just over 4,400 shares with further offers at the closing price and highest outstanding bids at €3.01.
  • HSBC also trades higher. Equity rises 0.9% to the €2.70 level on three trades totalling just 4,575 shares.
  • Meanwhile MIA slips a further 6.4% to close today’s session at the €2.20 level. Only 615 shares exchanged today with few bids remaining unsatisfied at the closing whilst lowest offers in the market now placed at the €2.399 level.
  • GO edges minimally higher today to regain the €1.80 level on two trades of just 550 shares. Last Friday, the Greek telecoms company Forthnet announced its results for the three months ended 30 June 2009. The results showed an improvement in revenue and Group EBITDA with the EBITDA margin reaching 20.3%. GO is expected to publish its interim results later on today.
  • On Friday, Grand Harbour Marina published its 2009 interim financial statements showing a substantial increase in pontoon fees and ancillary services to €926,196 following increased tariffs and higher occupancy rates. However during the period under review no super yacht berth sales were registered. GHM recorded a loss for the period of €168,167 compared to the net loss of €84,760 registered in the first half of 2008.
  • Last week, Lombard announced its 2009 interim results showing a 17% drop in pre-tax tax profits to €6.44 million. The decline in profitability was solely due to lower performance at the Group’s subsidiary MaltaPost plc. In fact, the banking operations of the Lombard Group saw its pre-tax profits rise by 5.7% to €5.41 million. Further details of results available here.
  • Also last week, 6pm announced its financial results for the first half of 2009 showing a net loss of GBP38,011 compared to a net profit of GBP99,788 registered in the same period last year. Although the Group registered higher revenues and managed to control administrative costs, these were offset by considerable increases in cost of sales and finance costs. Copy of half-year results available here.

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