Stock Market report: HSBC and BOV recover

The MSE Share Index rose 0.3% during this morning's trading session on the Borza to regain the 3,500-point level. Today's recovery in the local equity market was spearheaded by the increase the share prices of the two largest equities, namely HSBC Bank Malta plc and Bank of Valletta plc. HSBC edged 0.3% higher to close at €3.09 on volumes of 3,490 shares. BOV also advanced by 0.8% to regain the €3.325 level but on low volumes (2,357 shares).

BOV is scheduled to publish its half-year results on Friday April 30.

Medserv plc traded and maintained the €4.30 level despite today's buyers being not entitled to receive the final net dividend of €0.135 per share. 36,000 shares exchanged today with no offers in sight. Recently Medserv plc published its 2009 full-year results showing a record pre-tax profit of €3.1 million as turnover grew by 12.6% to €17.5 million.

Medserv explained that the Group companies operating from the Malta and Libyan bases were successful in servicing a number of rigs and other specialised vessels and supported various off-shore exploration operations. The Company is scheduled to hold its Annual General Meeting scheduled on 18 May. (See also: http://www.timesofmalta.com/business/view/20100422/features/medserv-profitability-climbs-to-a-record-pre-tax-of-euro-3-1-million )

Meanwhile MaltaPost plc shed most if its recent gains as the share price dropped 1.7% lower back to the €0.805 level on a single trade of 2,000 shares. The postal operator is expected to report their interim results on 13 May.

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