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  • MSE Share Index eased 0.1% lower to 3,084.964 points as HSBC’s 1.1% drop offset the 0.8% rise in BOV. Meanwhile the only two other active equities, IHI and GO, closed unchanged. Download a copy of today’s Equity Market Summary.
  • Earlier today, EU leaders announced that they reached an agreement with respect to a solution for the prevailing sovereign debt crisis. The agreement comprises a 50% hair cut on Greek debt held by the banks, a €1 trillion boost to the European Financial Stability Fund (EFSF) and a call on European banks to bolster their capital in order to reach a 9% Tier 1 Capital ratio by 30 June 2012. The deal triggered a recovery in Eurozone yields this morning leading to a 0.1% drop in the Rizzo Farrugia MGS Index to 984.513 points.
  • BOV’s equity recovered some of the recent declines as its share price advanced by 0.8% to the €2.419 level on volumes of over 35,000 shares. Further offers unsatisfied at the closing price whilst best bids pitched at the €2.40 level. The bank is scheduled to publish its full-year results for the financial year ended 30 September 2011 tomorrow.
  • Meanwhile HSBC slipped 1.1% lower back to the €2.631 level across eight trades totalling 9,800 shares. Other bids outstanding at the last traded price whilst lowest offers still pitched at the €2.66 level. During the second week of November, the Bank generally publishes its Interim Statement covering the third quarter of 2011.
  • After the high volumes totalling 208,354 IHI shares that changed hands during yesterday’s trading session, a further 260,000 shares were exchanged today at the €0.819 level representing no change from yesterday’s close. Other offers still in the market at the last traded price whilst best bids placed at the €0.80 level. 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.
  • GO also unchanged at the €1.001 level on low volumes of 3,375 shares. Other bids unsatisfied at the closing price whilst lowest offers pitched at the €1.029 level. Yesterday, 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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