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  • Upturn in HSBC’s equity helped the MSE Share Index recover most of yesterday’s decline with a 0.7% rise to 3,002.021 points. Meanwhile, the only other active equity, BOV, ended the session unchanged. This morning’s session was characterised by low trading activity as investors await the next wave of full-year results expected to be published this month. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index moved lower for the third successive day to 987.465 points. The bid prices by the Central Bank of Malta again did not correspond to the prevailing downward pressure on the benchmark Eurozone yields. Yields across the eurozone dropped on continued concerns relating to economic growth in Europe and to Greece’s sovereign debt crisis.
  • Subscriptions for the new Corinthia Finance plc bond opened last week. Corinthia Finance plc is offering €7.5 million in 6% bonds maturing between 2019 and 2022. Existing bondholders of the maturing 6.7% 2012 bonds have until the 16 March to submit their application if they wish to exchange their existing holding with the new bonds. Copies of the Prospectus are available here.
  • HSBC Malta’s equity back into positive territory as fresh bids lift the share price 2.3% higher to a 3-month high of €2.65 across three trades amounting to 7,000 shares. Further offers unsatisfied at the closing price with highest bids at the €2.61 level. The 2011 financial statements published a short while ago showed a 6% increase in pre-tax profits but after excluding a number of one-off items including the sale of the card acquiring business and the one-time charges related to the voluntary retirement scheme, the overall performance was in line with the previous year. The final gross dividend of €0.072 per share is payable to those shareholders as at close of trading on 13 March. Further details available here.
  • Meanwhile, BOV failed to hold on to an intra-day high of €2.13 as it eased back to a close of €2.12 across twelve trades amounting to 13,710 shares. Other bids outstanding in the market at the last traded price with lowest offers at the €2.17 level.
  • Yesterday afternoon, MIA announced a 3% decline in passengers during the month of February following a 10.6% decline in seat capacity. Further details available here. No reaction to this news in the market with the equity remaining inactive during this morning’s session. The airport operator is scheduled to publish its 2011 preliminary financial results on 22 March.

 

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