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  • Following last week’s 1.3% drop, the MSE Share Index today slipped another 0.4% lower to a new 2-year low of 3,067.392 points. Today’s negative performers were HSBC and BOV whilst GO’s share price edged minimally higher. Download a copy of today’s Equity Market Summary.
  • Subscriptions for the two new Malta Government Stocks, namely the 4.25% MGS 2017 (III) FI at 103.75% and the 5.2% MGS 2031 (I) at 100.75%, opened today and will close on Wednesday. Application Forms are available here.
  • After the substantial trading activity amounting to a total of 357,271 BOV shares that changed hands last week, trading activity in BOV shares sharply declined today as the equity turned ex-dividend. The Bank’s share price dropped 0.8% this morning to the €2.42 level across elven trades totalling 7,000 shares. Further bids unsatisfied at the closing price whilst lowest offers now pitched at the €2.50 level. Further details on the September 2011 full-year results available here.
  • Similarly, HSBC’s share price retreated by €0.02 to the €2.63 level on volumes of over 20,000 shares. In the next few days, the Bank is expected to publish its Interim Statement covering the performance during the third quarter of the year.
  • The only other active equity today was GO which edged minimally higher to close at €1.021 on volumes of 2,660 shares. Last week the quad-play telecom operator published its Interim Directors’ Statement explaining that during the first nine months of 2011 it continued to grow its customer connections whilst maintaining a robust operating performance from its local operations resulting in a healthy level of profitability and cash generation despite the current challenging economic climate and an increasingly competitive market. The Directors made reference to the €22.2 million loss incurred by GO in the first six months of 2011 from its indirect investment in the Greek telecommunications company Forthnet. However, the announcement failed to provide any indications with respect to Forthnet’s performance during Q3 and its upcoming Extraordinary General Meeting called to approve a €30 million rights issue.
  • This week a further 9 companies with a December year end are expected to publish their respective Interim Statements, including HSBC, MIA, Medserv and RS2 Software.

 

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