Daily Market Highlights (01.02.12)

  • The MSE Share Index continued its downward movement for the fourth consecutive day. The index slipped by 0.62% to a new 28-month low of 3,042.328 points on the back of declines in the share prices of the two large banks and Malta International Airport plc. The only security that closed the day higher was that of Lombard Bank while GO closed the day unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index continued to edge higher to close the day at 989.948 points as the Central Bank of Malta raised the bid prices of the Malta Government Stocks. Activity on the bond market continued to be fairly high with the 3.6% MGS 2013 being the most active as €1.1 million (nominal) changed hands. Subscriptions for the three new government stocks announced last week opened today and close on Friday 3 February. A total of €300 million is on offer across the following stocks: (i) 4.25% MGS 2017 (III) (Fungibility Issue) at 103.75%; (ii) 4.3% MGS 2022 (II) at 100% (par) and (iii) 5.2% MGS 2031 (I) (Fungibility Issue) at 101.75%. Further details and copies of the application forms are available here.
  • Bank of Valletta plc moved lower as the equity shed 2.2% to close at the €2.20 level. Just over 11,000 shares traded today with bids amounting to over 3,100 shares remaining unsatisfied at the closing level and lowest offers at €2.21. Last Friday, BOV published its Interim Directors’ Statement covering the first quarter of its 2011/12 financial year. BOV reported that it registered a net profit similar to that in the previous comparable period.
  • HSBC Bank Malta plc eased minimally lower on thin activity. The equityclosed at €2.54 and the Bank is shortly expected to announce the date when the 2011 full-year results will be published.
  • Malta International Airport plc eased by 0.5% to €1.74 on a single trade of 7,940 shares. Last week, the airport operator announced its forecast for 2012. MIA is expecting a 2.8% drop in passenger movements during 2012 to 3.4 million on the back of the expected decline in demand for travel and the reduction in cruise liner calls. These will offset the new routes to be introduced by Air France and Ryanair. Nonetheless, the Company’s 2012 forecast is still 3% higher than the previous record registered in 2010.
  • On the other hand, Lombard Bank Malta plc edged 0.8% higher from yesterday’s 15-month low of €2.55.
  • GO plc touched its all time low of €0.85 during the day but closed unchanged on support at the €0.89 level. There were an additional 1,096 unsatisfied bids at the closing price.