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  • MSE Share Index unchanged today at 3,103.426 points as the only active equity, BOV, ended this morning’s session unchanged. Over the week, the local equity market was dragged 0.6% lower by the declines in the share prices of IHI, GO, FIMBank and RS2 Software. These offset the positive performances of HSBC, MIA and Lombard. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index climbed 0.2% higher this week to 985.361 points. Early this week Eurozone yields touched a new 3-month high of 2.256% following the G20 meeting during which the European representatives reassured the other delegates that Europe was working on a plan to solve the region’s sovereign debt crisis. However as the week progressed, doubts on such a solution remerged thereby forcing yields back to just above the 2% level. Market now eagerly await the outcome of this weekend’s meeting of European leaders after media reports revealed the France and Germany are in disagreement over the next step forward.
  • During this morning’s session BOV’s share price closed unchanged at the €2.45 level across eight trades totalling just over 9,600 shares. Equity also ended the week unchanged ahead of the Bank’s full-year preliminary results publication next Friday 28 October.
  • Meanwhile HSBC, which was inactive today, ended the week 0.8% higher at the €2.66 level. Offers already placed lower with best bids placed at the €2.641 level. During the second week of November, the Bank generally publishes its Interim Statement covering the third quarter of 2011.
  • During the past five sessions GO’s share price slipped by 4.6% to its all-time low of €1.05 as investors remain wary over the Group’s investment in Forthnet. The Greek telecoms Group is scheduled to hold an extraordinary general meeting next Thursday during which shareholders will be asked to approve a €30 million rights issue. Investors also await developments with respect to Forthnet’s ongoing discussion with its bank over its loan covenants which it is currently breaching.
  • IHI also amongst the negative performers of this week with a weekly drop of 2.4% to the €0.80 level although most of this week’s trades took place at €0.815. Best bids in the market now at €0.795 whilst lowest offers pitched at the €0.815 level.
  • This week’s worst performer was FIMBank plc whose share price tumbled 10.4% this week to a new multi-year low of US$0.67 on total volumes of 14,000 shares. The trade finance specialist will also be publishing its Interim Statement within the next few weeks to update the market on its performance since the half-year stage.
  • On the other hand, the equity of Malta International Airport plc ranked as the best performer during the last five sessions after raising its passenger growth forecast for the second time this year. Following the arrival of the three millionth passenger, the airport operator announced that it is now expecting at least a 4.5% growth in passengers compared to the previous forecast of 3.2%. MIA’s share price advanced by 2.4% to a new 3-month high of €1.70 on volumes of more than 53,000 shares. Further details available here.

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