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  • MSE Share Index again edged slightly higher to 3,089.561 points as IHI’s 1.1% rise offset the declines in BOV and GO. Meanwhile the only other active equity, HSBC, closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index climbed 0.4% higher to 985.556 points. This was in line with the drop in Eurozone yields as EU leaders are not expected to reach an agreement on how to solve the prevailing sovereign debt crisis during today’s summit.
  • Significant rise in trading activity across IHI shares as volumes reach over 208,000 shares with the share price moving 1.1% higher to close at a new 3-month high of €0.819. In the coming weeks, IHI is due to publish its Interim Statement to update the market on the performance of the Group’s various hotels since 30 June 2011. Particular attention will be given to the Corinthia Hotel in Tripoli, Libya following the latest developments.
  • Further selling pressure across BOV shares as the equity initially dropped to a new 2-year low of €2.38 before partially recovering to a close of €2.40 (-0.6% from the previous closing price). Twenty-seven deals executed this morning totalling over 40,400 shares with best bids now placed at €2.385 and lowest offers at the €2.42 level. Next Friday BOV will be publishing its results for the financial year ended 30 September 2011.
  • Meanwhile HSBC held on to the €2.66 level on a single trade of 1,000 shares. Other offers unsatisfied at the closing price whilst best bids still in the market at the €2.631 level. During the second week of November, the Bank generally publishes its Interim Statement covering the third quarter of 2011.
  • GO’s equity reached the €1.029 level at the beginning of today’s session but dropped back to €1.001 representing a marginal decline from the previous close. This morning, Forthnet announced that its Extraordinary General Meeting has been postponed to 15 December. The Forthnet Directors, however, failed to disclose the reason for the EGM postponement which was set to ask shareholders to approve a number of changes in the share capital and a €30 million rights issue.

 

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