MaltaPost and Lombard continue to outperform
The share prices of MaltaPost plc and Lombard Bank Malta plc once again moved higher this morning outperforming the overall trend across the local equity market.
The equities of the postal operator and its parent company Lombard have so far gained five per cent and 6.8 per cent, respectively during the first five weeks of 2011 in contrast to the 2.1 per cent rise in the MSE Share Index.
This morning fresh demand help lift Lombard’s share price one per cent higher to the €2.99 level across three trades amounting to 16,785 shares. Lombard’s share price has recovered all the losses sustained during 2010.
Moreover MaltaPost plc’s share price climbed by 2.9 per cent to yet another new all-time high of €1.05.
Five trades totalling 52,200 shares were exchanged today with lowest offers now placed at the €1.07 level.
MaltaPost had been the top performer in 2010 with a share price appreciation of 42.9 per cent. The company is due to make its dividend payment on February 11.
Bank of Valletta plc also closed in positive territory today with the share price edging 0.3 per cent higher to the €3.12 level on volumes of 8,237 shares.
Meanwhile HSBC Bank Malta plc once again held on to the €3.50 level as a further 39,530 shares traded this morning. HSBC is scheduled to publish its 2010 full-year results on February 18.
Also in the financial sector, Middlesea Insurance plc edged one per cent higher to regain the €1.02 level on a small deal of 202 shares. This morning the insurance company announced that it will be reporting its 2010 financial figures on March 14.
On the other hand, GO plc succumbed to selling pressure as its share price retreated by 0.7 per cent to the €1.91,5 level across 11 trades amounting to 12,000 shares.
Forgendo Ltd, GO’s joint-venture with its parent company EITL, has been acquiring further shares in the Greek telecoms Group Forthnet thereby increasing its shareholding to 41.27 per cent.
Malta International Airport plc also closed in negative territory as the share price slipped a further 1.2 per cent to the €1.75 level on volumes of 2,630 shares.
Despite the 4.4 per cent downturn registered in the share price this week, the equity is still 5.4 per cent higher than its value at the beginning of the year.
Medserv plc’s equity was active for the first time in 2011 as the share price declined by 1.2 per cent to the €4.20 level on volumes of 7,930 shares.
No further bids or offers are placed in the market.