BOV recovers, share index down for 8th consecutive week

During this morning’s trading session on the Borza, the share price of Bank of Valletta plc recovered the losses sustained in the past two sessions adding 1.1% to €3.299.

eanwhile HSBC Bank Malta plc, International Hotel Investments plc and 6pm Holdings all edged lower while MaltaPost plc maintained the €0.80 level.

Next week 6pm Holdings plc and RS2 Software plc will be publishing their 2009 full-year with Middlesea Insurance plc due to report on 27 April.

Overview of the week

The MSE Share Index closed in negative territory for the eight consecutive week. The Index declined by 0.9% during the second week of April to 3,492.500 points mainly due to a 2.2% drop in the share price of HSBC Bank Malta plc. Meanwhile the best performer this week is MaltaPost plc with a gain of 4.6%, closing at the €0.80 level.

Various companies issued their 2009 results in the past five days with Grand Harbour Marina plc, Simonds Farsons Cisk plc and Medserv plc all reporting improved profitability and healthy dividends. On the other hand International Hotel Investments plc reported a slight loss as the international hospitality industry was negatively impacted by the global economic turmoil.

This week also marked the commencement of trading of the Premier Capital plc and International Hotel Investments plc bonds. Over €62,000 (nominal) Premier Capital plc bonds traded this week at 101.50% whilst a single trade of IHI’s bonds at the par level.

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