During this morning’s trading session on the Borza, the share price of International Hotel Investments plc climbed 2.4% to regain its 2010 high of €0.85. Six trades amounting to 18,700 shares were transacted today with lowest offers now placed at the €0.895 level. Recently the IHI Group published its 2009 results showing a pre-tax loss of €1.6 million compared to the pre-tax profit of €22.3 million registered in 2008.

This was mainly due to the slowdown in the hospitality industry witnessed during the year which was somewhat contained through the Group’s geographical diversification of its property portfolio. In the Annual Report sent to shareholders last week IHI Chairman Mr Alfred Pisani reiterated the Group’s intentions to seek a secondary listing through the floatation of new shares on the London Stock Exchange.

Encouraging levels of turnover were also registered in the equities of HSBC Bank Malta plc, GO plc and MaltaPost plc. Over 34,000 HSBC shares traded today as the share price closed minimally higher at €3.064 after trading for most of the day at €3.05. GO’s share price rose by 0.5% to €2.12 on volumes of 28,000 shares on renewed demand during the final stages of the session.

Moreover, the share price of MaltaPost also regained its 2010 high of €0.85 as all offers at this level were taken up. Medserv plc also closed today’s session in positive territory as the equity edged 1% higher to €4.28 - marginally below its 2010 high of €4.30.

Meanwhile following the 6.1% rise registered by Bank of Valletta plc share price during the previous two sessions, BOV’s equity eased by 1.4% to the €3.45 level with trading activity declining to just over 9,200 shares compared to substantially higher volumes in yesterday’s session as the market reacted positively to the March 2010 interim results published on Friday afternoon. Although the shares are still trading with the entitlement to the gross dividend of €0.075 per share, BOV’s equity dropped by €0.05 (1.4%) this morning.

Last Friday, the bank announced a substantial increase in pre-tax profits to €47.5 million on the back of a strong improvement in net interest as well as fee and commission income. BOV also reported a strong growth in loans as well as its deposit base. The interim dividend will be paid on 28 March to shareholders as at close of trading on Friday 7 May 2010.

www.rizzofarrugia.com

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