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  • Local equity market in negative territory for the third successive session as most equities trade lower with some touching new multi-year lows. MSE Share Index down another 0.3% to a new 28-month low of 2,992.669 points following declines in the share prices of HSBC, Lombard, Middlesea, FIMBank and Crimsonwing. On the other hand, MaltaPost gained 3.2% on low volumes whilst BOV and RS2 traded unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index slid 0.2% back to 986.857 points as benchmark Eurozone yields soared to around the 2% level on rising concerns about the ability of Greece to obtain the necessary bailout funds.
  • Yesterday, the Treasury announced that it satisfied all applications submitted by the general public and tenders lodged by institutions amounting to over €274 million (nominal). The allotments across the three fixed rate stocks were as follows: €39.8 million (nominal) in the 4.25% MGS 2017 (III) FI, €158.5 million (nominal) in the 4.3% MGS 2022 (II) and €76.4 million (nominal) in the 5.2% MGS 2031 (I) FI. Further details and copy of the statistics available here.
  • HSBC edged 0.6% lower to €2.55 on low volumes of 4,540 shares. Other bids in the market at the last traded price whilst lowest offers pitched at the €2.565 level. The Bank is scheduled to publish its 2011 full-year results on Friday 24 February.
  • Meanwhile BOV unchanged at the €2.21 level also on shallow volumes of 2,541 shares. Further offers remaining unsatisfied at the closing price whilst best bids placed at the €2.19 level.
  • New sell orders also pushed the share price of Lombard 0.8% lower to a fresh 14-month low of €2.53 across three trades totalling 20,390 shares. Best bids in the market at €2.51 whilst lowest offers pitched at the €2.55 level.
  • Similarly, Middlesea’s equity tumbled 2.6% to the €0.70 level – a new 21-month low. Five trades totalling 5,176 shares were transacted this morning with no bids in sight and further offers outstanding at the closing price.
  • A single trade of 1,800 FIMBank shares executed this morning at the US$0.75 level representing a 2% drop from the previous close. The FIMBank Group is scheduled to publish its 2011 financial results on 12 March.
  • The worst performer of the day was Crimsonwing with an 18.2% plunge to a new all-time low of €0.18 across ten trades totalling over 61,700 shares. In early February the IT Company generally publishes an Interim Directors’ Statement to update the market on its performance since the September 2011 half-year end. At the half-year stage, Crimsonwing reported a 9.5% increase in revenue to €7.7 million but incurred a marginal loss of €19,346 after incurring one-off costs and making investments in order to achieve its revenue target of €20 million per annum.
  • RS2 Software unchanged at the €0.55 level across four trades totalling 30,000 shares. Other offers in the market at the last traded price whilst best bids placed at the €0.50 level.
  • The only other active equity, MaltaPost, edged 3.2% higher to regain the €0.99 level on very low volumes of 512 shares. However offers already placed minimally below the last closing price whilst best bids pitched at the €0.965 level.

 

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