Daily Market Highlights (15.07.14)

  • During this morning’s session on the Borza, the MSE Share Index moved 0.4% higher to 3,318.518 points largely due to the increases in the share prices of BOV and HSBC. Medserv also trended higher, whilst Middleseea eased lower on shallow volumes. Meanwhile, all other four active equities ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to reach a new all-time high of 1,058.741 points following the dip in Eurozone yields to the 1.19% level as the European Central Bank (ECB) President Mario Draghi reiterated the possibility of using quantitative easing to prop up the region’s economy. Furthermore, data published this morning showed that investor confidence in Germany dropped to its lowest level since December 2012.
  • This morning, the Treasury announced the issue of 2 new Malta Government Stocks for a total aggregate amount of €180 million. The 2 new fixed rate stocks are the 2.00% MGS 2020 (V) and the 4.1% MGS 2034 (I). Prices will be determined on Thursday 24 July 2014 in the afternoon. Subscriptions open on Monday 28 July and close on Wednesday 30 July for the General Public (applications of up to €100,000) while tenders in the form of sealed bids (for amounts in excess of €100,000) will be accepted until noon on Monday 4 August.
  • BOV rebounded by 1.4% to €2.12 on volumes of just under 35,000 shares.
  • Similarly, HSBC moved 0.5% higher to close at the €2.01 level across 9,000 shares. The Bank is scheduled to publish its interim results on Monday 4 August.
  • Likewise, Medserv jumped 2.36% to end this morning’s session at the €1.30 level, with 50,903 shares changing hands over 6 trades.
  • On the other hand, Middlesea Insurance retreated by 1.14% to close today’s session at the €0.87 level on shallow volumes of 230 shares.
  • Meanwhile, no change was registered in the share price of MIA, as the equity held on to the price of €2.30 across 3,200 shares. Likewise, Farsons and RS2 Software saw no change in their share prices at €2.95 (200 shares) and €2.50 (338 shares) respectively.
  • GO also held on to the €2.219 level during today’s session as the market awaits further developments on the offer made by OTE for Forthnet’s pay-TV business earlier this month.