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  • MSE Share Index partially reversed last weeks’ 0.9% drop as the Index rose 0.1% higher to 3,132.03 points. During this morning’s session, GO traded lower whilst HSBC and MaltaPost edged higher. The only other active equity, BOV, closed the session unchanged. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index closed in negative territory for the fifth consecutive daywith a further 0.2% drop to a new 17-month low of 969.426 points . This is in line with the increase in eurozone yields to just under 2.32% today on the back of increasing concerns relating to the Eurozone debt crisis. Various articles made reference to the fact that the International Monetary Fund (IMF) might be offering Italy and Spain a financial assistance package. However the IMF denied such preparations.
  • Today the Treasury launched a 3-year MGS Switch Auctions Programme relating to those stocks maturing between 2012 and 2014. Furthermore, the Treasury announced the first operation which will comprise  the exchange of up to €200 million (nominal) of 5.7% MGS 2012 (III) into the 4.3% MGS 2016 (IV).  Further details available here.
  • BOV closed unchanged at the €2.50 level  across 15 trades amounting to 15,201 shares.  Best bids outstanding at €2.501 whilst lowest offers pitched at the €2.52 level. The Bank published its 2011 Annual Report last Friday ahead of its Annual General Meeting scheduled to be held on 16 December. Amongst the resolutions on the agenda, shareholders will be asked to approve the recommended final gross dividend of €0.08 per share and a 1 for 8 bonus share issue.
  • HSBC reversed some of last week’s  0.4% drop when it moved slightly higher from its 2011 low of €2.60 to regain the €2.610 level. A single trade of 2,000 HSBC shares was executed today.
  • MaltaPost also edged slightly higher today. Six trades totaling 13,000 shares transacted today with the equity moving 3.2% higher to regain the €0.98 level. The Company is expected to publish its preliminary full year results on Thursday 1 December.
  • GO’s share price eased 0.1% lower to €1.039 across one deal of 3,200 shares. Last Friday, Forthnet (in which GO has an indirect investment) announced that the Board of Directors of the Athens Stock Exchange decide to transfer its shares to the ‘Under Surveillance Segment’ in view of the fact that its latest full-year financial results show losses which are greater than 30% of the Group’s equity. In response, Forthnet is scheduled to hold an Extraordinary General Meeting on 15 December during which shareholders will be asked to approve a number of changes to Forthnet’s share capital and a €30 million rights issue.

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