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  • MSE Share Index up a further 0.5% today to 3,108.287 points as IHI and Farsons trade higher offsetting the decline in the share prices of the two large banks. Today marks the end of the third quarter of 2011 during which the local equity benchmark slipped a further 6.6% (the third consecutive quarterly decline) as most of the equities, including the five largest equities by market capitalisation, closed the quarter in negative territory. Download a copy of today’s Equity Market Summary.
  • During the three months ended 30 September 2011, the Rizzo Farrugia MGS Index closed the third quarter 1.6% higher to 988.912 points level. This recovery reflects the downturn in Eurozone yields as investors sought “safer-haven” asset amid the region’s sovereign debt crisis and the prevailing global economic challenges.
  • HSBC eased 0.4% lower to the €2.63 level representing no change over the week. However HSBC shares declined by 9.3% during the third quarter. Eleven trades totalling over 12,000 shares executed today with few other offers unsatisfied at the last traded price.
  • BOV also in negative territory today as its share price slid 1.3% lower to €2.501 on volumes of almost 19,000 shares. Similar to the trend in HSBC, BOV’s equity plunged 7.4% during the third quarter of this year which also represents the last quarter of the Bank’s financial year. BOV generally publishes its full-year results by the end of October.
  • This morning, Simonds Farsons Cisk completely recovered last Wednesday’s 5.3% drop as the equity climbed by 5.9% to regain the €1.80 level on volumes of 7,452 shares. This follows the Group’s interim results publication covering the six months ended 31 July 2011 which revealed a 20.8% rise in profitability to €2.6 million. The Directors declared a net interim dividend of €0.0133 per share (equivalent to the previous interim dividend) to all shareholders as at close of trading on Tuesday 4 October. Further details on results available here.
  • Fresh bids also helped IHI’s share price rise by 5.3% to regain the €0.80 level on low volumes of just over 1,600 shares. IHI was also amongst the negative performing equities during the three months ended 30 September with a quarterly decline of 2.4% despite a 9.6% recovery during the month of September.
  • GO ranks as the worst performer during the third quarter of 2011 with a further 18.8% slump to €1.12 as investors continued to shun the equity on the back of widening losses at Forthnet. Coupled with the 28.7% drop from the previous two quarters, the equity currently stands 42.1% below its value at the beginning of the year.

 

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