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  • Following last week’s marginal decline, the MSE Share Index slid a further 0.3% this morning to 3,095.055 points mainly due to BOV’s 1.9% drop. On the other hand, GO, MIA and RS2 closed in positive territory whilst HSBC, IHI, Lombard and Middlesea all closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index again eased minimally lower to 988.271 points as Eurozone yields continued to recover to above the 2% level. The upturn in yields follows assurances over the weekend by German Chancellor Angela Merkel and French President Nicolas Sarkozy that both countries will help strengthen the capital of European Banks. Details of such plan were, however, not announced.
  • BOV’s support at the €2.50 level wanes as the equity slipped 1.9% during this morning’s session back to a new 2-month low of €2.452 level. Over 11,600 shares changed hands today with best bids now placed at €2.45 whilst lowest offers pitched at the €2.499 level. BOV generally publishes its preliminary full-year results by the end of October.
  • On the other hand, HSBC again held on to the €2.65 level across seven trades amounting to 5,500 shares. Best bids now placed at €2.64 whilst lowest offers remain outstanding at the €2.655 level.
  • Initially GO traded at its all-time low of €1.05 but recovered to close 1.8% higher at the €1.12 level. Two trades transacted today comprising 2,540 shares. Further offers unsatisfied at the closing price whilst best bids stand at the €1.05 level.
  • MIA’s share price edged 0.1% higher to €1.57 across three trades totalling almost 14,000 shares. Few other bids unsatisfied at the closing price whilst best bids now placed at the €1.60 level.
  • A single trade of 1,000 RS2 Software shares executed at the equity’s 2011 high of €0.60 representing a 1.7% rise over the previous close. Other offers outstanding at the last traded price whilst best bids still unsatisfied in the market at the €0.58 level.
  • IHI unchanged at €0.795 on volumes of over 15,000 shares. Other bids outstanding at the closing price whilst lowest offers pitched at the €0.80 level.
  • Middlesea Insurance also unchanged at the €0.92 level on volumes of 5,310 shares. Last week, the Insurance Group announced that 780 shareholders holding 3.585% of the total outstanding share capital opted to sell their shares to Mapfre Internacional S.A. at the latter’s mandatory bid price of €0.965 per share. Following this mandatory bid by Mapfre, Middlesea shareholder structure changed as follows: Mapfre Internacional S.A. owns 54.56%; BOV maintained its 31.08% shareholding whilst the general public’s share was reduced to 14.36%. Further details available here.
  • The only other active equity, Lombard, also traded unchanged at the €2.59 level on a single trade of 1,000 shares.

 

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