Four equities traded higher during this morning's session on the local equity market with the MSE Share Index rising by 0.4% to a new 3-week high of 3,010.921 points.
HSBC Bank Malta plc edged 0.4% higher to regain the €2.60 level on volumes of 3,000 shares. Last Friday, the Bank published its preliminary 2011 financial results revealing a 6.3% increase in pre-tax profits to €88.3 million. The 2011 results were characterised by a number of one-offs such as the sale of the card acquiring business and the €6.9 million unrealised gain from an adjustment in the methodology of the insurance business on the income side and an €11 million charge relating to a voluntary retirement scheme on the costs side.
Excluding such extraordinary items, HSBC Malta's profitability is line with that of 2010. The Directors recommended a final gross dividend of €0.072 per share payable to those shareholders as at close of trading on Tuesday 13 March. Further details on the 2011 results of HSBC Malta maybe found at http://rizzofarrugia.com/news-events/2012/full-year-results-hsb02/.
Also in the financial sector, the share price of Bank of...
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