FIMBank retreats to 11-week low

During this morning's session, the share index moved back into positive territory with a 0.3 per cent increase to 4,421.202 points as BOV, HSBC, GO, MIA and Medserv rebounded. After reaching a seven-week high during yesterday's session, trading activity slowed down by 20.9 per cent to €0.27 million across local equities. In the banking sector, Bank of Valletta rebounded by 1.4 per cent to recapture the €2.25 level across two deals totalling 4,400 shares. Similarly, HSBC partially reversed some of the recent declines with a 0.7 per cent uplift to recapture the €1.56 level albeit on a single trade of 1,500 shares. The bank is scheduled to pay the recently declared gross interim dividend of 7c1 per share (net: 4c62) on September 9. The equity of Malta International Airport edged 0.2 per cent higher to €4.24 on shallow volumes of 3,670 shares. Likewise, Medserv rebounded by three per cent to regain the €1.54,5 level on a single trade of 7,000 shares. Last Friday, Medserv published its 2016 interim results revealing a substantial drop in pre-tax profits to €0.28 million on the back of a slowdown in Cyprus and a delay in works in Portugal among other factors. GO trended higher for the...

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