Pg 1 of 2131234Last »
  • MSE Share Index still in positive territory with a 0.1% rise to 3,075.222 points as MIDI’s 12% increase offset the marginal declines in HSBC and Lombard. On the other hand, BOV, GO and FIMBank ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index dipped 0.1% lower to 995.417 points as Eurozone yields remained above the 1.50% level. German bund yields were supported ahead of tomorrow’s key ruling by Germany’s Constitutional Court on whether the country can legally participate in Europe’s permanent bailout fund which is necessary for the European Central Bank (ECB) to activate its bond buying programme announced last week. Benchmark yields in Europe also moved higher at the beginning of this week on heightened worries over Greece as the ailing country failed to obtain approval on its proposed €12 billion austerity package needed to obtain the next tranche of bailout funds. Moreover, markets are also concerned by the delayed request for a bailout by Spain after the Spanish Prime Minister stated that he is uncertain about the conditions expected to be attached to such a bailout.
  • High volumes of 166,500 shares traded in GO across ten trades during this morning’s session at the €0.85 level. Further offers unsatisfied at the last closing price as investors await GO’s decision on whether to participate (through its joint-venture Forgendo) in Forthnet’s upcoming €30 million rights issue. GO’s board should hold a meeting in this respect by the end of September.
  • FIMBank’s shares price also unchanged at the US$0.80 level on a single trade of 23,000 shares as shareholders await development with respect to the potential takeover by Burgan Bank. Further offers outstanding at the last closing price whilst best bids pitched at the US$0.75 level.
  • Similarly, no changes registered in the share price of BOV as 3,000 shares changed hands at the €2.29 level.
  • Meanwhile the share price of HSBC eased 0.3% lower to €2.73 on volumes of 2,380 shares.
  • Further selling pressure in Lombard Bank as the equity slid a further 0.8% to yet another 7-year low of €1.93 on a single deal of 5,000 shares. Lombard shares have fallen by 28.5% since the start of year reflecting the significant drop in profitability registered during the first six months of 2012.
  • On the other hand, MIDI reversed most of last week’s 13.8% drop with a 12% increase during this morning’s session to regain the €0.28 level on a small trade of 500 shares. MIDI recently announced that it expects to be in a loss making position for the financial year ending 31 December 2012 due to the low stock of apartments available for sale.

Responses are currently closed, but you can trackback from your own site.