In contrast to the marginal increases in the share price of HSBC during the past two weeks, new sell orders forced the bank’s equity down to €1.90 although a final trade at €1.93 ensured that the shares ended the session 0.8 per cent higher. Volumes were high at 215,891 shares.
Similarly, the equity of International Hotel Investments marginally rebounded to recapture the 53c level on just 1,789 shares.
Meanwhile, GO trended in negative territory today with a 0.2 per cent drop to the €2.51 level across six deals totalling 19,000 shares. The quad-play operator’s shares touched an intra-day low of €2.48 earlier on today.
On the other hand, Bank of Valletta closed unchanged, as the Bank’s equity failed to hold on to the €2.22 level reached earlier on this morning. A total of 29,501 shares changed hands during today’s trading session, and the bank closed at the €2.20 level. The bank is scheduled to hold its annual general meeting on December 17.
Likewise, a trade of 3,400 shares of RS2 Software left the software company’s equity unchanged at the €2.92,9 level– just 2c1 below its all-time high.
Overall, the share index moved 0.3 per cent higher to 3,256.020 points.
Earlier this afternoon, MaltaPost published its preliminary full-year results for the financial year ended September 30.
Despite the decline in the traditional letter mail volumes, the postal operator has increased its revenues by 9.6 per cent to €23.7 million as a result of increased parcel business.
This translated in an increase in operating profits of 43.9 per cent as its operating expenses increased at a slower rate than its revenues, reflecting better efficiencies.
After accounting for a lower finance cost charge and a higher tax charge which commensurate the increase in taxable profits, the profit for the year of MaltaPost was 38.7 per cent higher than the same period in 2013 at €1.8 million.
The board are recommending a net dividend of 4c per ordinary share, payable in cash or in additional shares to shareholders on the register as at December 17, which includes trades up to December 15.
On the bond market, the Rizzo Farrugia MGS Index moved 0.2 per cent higher to yet another all-time high of 1,098.574 points as Eurozone yields touched a new all-time low of 0.697 per cent.
Investors in Europe sought safe-haven assets in view of the largest drop in Germany’s imports during the last two years, exports of Europe’s largest economy are also faltering whilst EU finance ministers have asked France and Italy to trim their budgets further.
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