The local equity market closed again in negative territory today as most active equities declined.
All four banking institutions closed lower today forcing the MSE Share Index to close 0.3 per cent lower to end the week at 3,573.403 points.
HSBC Bank Malta plc slipped 0.7 per cent to a fresh three-month low of €2.90 on volumes of 6,625 shares whilst Bank of Valletta plc only edged €0.00,1 lower back to the €2.96,9 level on volumes of just over 7,400 shares.
Despite still trading with the entitlement to the final net dividend of US$0.02,48 per share, FIMBank plc reversed this week’s earlier gains as its share price retreated by 2.6 per cent to the US$0.90 level on a single trade of 1,696 shares.
Similarly, Lombard Bank plc’s share price declined by 0.3 per cent to the €3 level as all outstanding shares on offer at this level (13,414) were snapped up.
Yesterday, the bank published its 2010 full-year results revealing a 12.9 per cent increase in after-tax profits to €8.3 million and a final cash dividend of €0.11,5 per share (+15 per cent) to all shareholders as at close of trading on March 24.
RS2 Software plc’s equity dropped 2.8 per cent to a new all-time low of €0.38,9 across one deal of 5,000 shares.
Further offers are already placed in the market below the last closing price at the €0.38 level.
In the latest interim directors’ statement published November 18, the company revealed two new clients: one in the United States and one in Germany.
Moreover, the directors stated that they expect earnings for the second half of 2010 to be better than those registered in the corresponding period last year as well as than those in the first six months of 2010 when RS2 registered a pre-tax profit of €78,055.
Meanwhile, Malta International Airport plc held on to yesterday’s 2.9 per cent gain as a further 16,000 shares traded at the €1.80 level.
The company will be publishing is full-year results next Thursday.
Week Overview
The declines registered during the last two sessions in the local equity market offset the recovery in previous sessions.
In fact, the MSE Share Index closed the week minimally lower mainly driven by the weekly declines in HSBC and GO which retreated by two per cent and 2.3 per cent, respectively.
The only two positive performing equities of the week were BOV (+2.4 per cent) and Malta International Airport plc up 3.8 per cent to rank as the best performing equity this week.
On the other hand, the Rizzo Farrugia MGS Index moved 0.3 per ce nt higher this week to close at 978.897 points.
Eurozone yields dropped sharply below the 3.2 per cent level following this morning’s natural disaster in Japan which immediately sent shockwaves throughout the global financial markets.
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