Daily Market Highlights (17.07.12)

  • Local equity market again in positive territory as the MSE Share Index moves a further 0.1% higher to 3,064.674 points following marginal increases in the share prices of the three retail banks. Meanwhile, MIA eased lower ahead of the half-year results publication later on this afternoon. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 992.193 points as the Central Bank of Malta Stockbroker revised its prices upwards. Various MGS’s were active during this morning’s session. In contrast, Eurozone yields moved higher on the hope the US Federal Reserve Chairman Ben Bernanke hints at fresh measures of quantitative easing in a bid to counteract the impact from the sovereign debt crisis in the Eurozone.
  • HSBC’s equity edged 0.4% higher to close at a new 8-month high of €2.68 on a single deal of 400 shares. The Bank is scheduled to publish its interim results on Friday 27 July.
  • The share price of BOV touched a new 33-month low of €2.00 before recuperating to close minimally higher at the €2.05 level. Thirteen trades totalling 21,983 shares were transacted this morning. Shortly after the close of today’s trading session, BOV issued its Interim Directors Statement covering the Bank’s performance during the third quarter (April to June) of its current financial year ending 30 September 2012. Further details available here.
  • Similarly, Lombard Bank’s shares recovered from a new 79-month low of €2.15 to also close minimally higher at the €2.18 level. Four trades totalling 5,424 shares were executed today with further bids in the market at the €2.15 level.
  • Meanwhile, the only other active equity, MIA, closed 0.6% lower at the €1.74 level on a single deal of 1,000 shares. The airport operator is expected to publish its half-year results later on this afternoon.
  • The subscription period for the new equity issue of Malita Investments plc will open on Monday 23 July. The company is issuing a total of 20,000,000 new ‘B’ shares for general public subscription at the nominal value of €0.50. Malita Investments will have a market capitalisation of €69 million representing a 2.5% weighting in the MSE Share Index. Further details on this IPO available here.