The share price of HSBC Bank Malta plc dropped 2.1 per cent during today’s trading to close at a new 2010 low of €3.
A total of 25,000 shares were exchanged this morning.
After the equity dropped to this level, fresh demand entered the market and as at close of today’s session highest bids are already placed at €3.02,1.
Total demand remaining unsatisfied at the €3 level amounts to over 26,000 shares. HSBC’s equity had traded at a high of €4.05 on January 13 but following the publication of the disappointing 2009 full-year results on February 22 and the lower dividend payment, the share price declined by 22.5 per cent from the level of €3.87.
Bank of Valletta plc also closed lower for the second successive session. Following Monday’s initial positive reaction to the strong interim results published last Friday afternoon when the share price gained four per cent to €3.50, the equity has since shed 2.9 per cent to €3.40 on lack of support for the equity. The shares are still trading with the entitlement to the gross interim dividend of €0.07,5 per share. This interim dividend will be paid on March 28 to shareholders as at close of trading next Friday.
Encouraging levels of trading activity were again registered in GO plc. Following yesterday’s 0.5 per cent increase to €2.12 on volumes of 28,000 shares, a further 23,000 shares traded today. The share price maintained its closing price after touching an intra-day low of €2.10. GO is scheduled to hold its annual general meeting on May 17.
Loqus Holdings plc (formerly Datatrak) also closes unchanged at €0.20 but offers are already placed at the €0.15 level.
This afternoon Loqus published its Interim Directors’ Statement. The Directors explained that Loqus is still being impacted by the international economic situation although moderate positive progress is expected in the second half of 2010.
Nonetheless Loqus managed to maintain its client base and it was confirmed that work commenced in February 2010 on the important LEMIS contract for the Government Property Division.
Furthermore, Loqus was also recently awarded a contract by MITA for the Provision of online e-Forms and Related Services. At the same time the Group continues to place emphasis on new areas of growth.
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