Daily Market Highlights (01.07.2011)

  • HSBC’s 0.7% gain helps MSE Share Index edge 0.2% higher to close at 3,334.039 points. The other four active equities (BOV, MaltaPost and GO) closed today’s trading session unchanged. Despite today’s marginal recovery, the index still posted a weekly decline of 0.32% as most of the active equities closed lower. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index continued to decline and edged 0.2% lower to 972.103 points as benchmark Eurozone 10-year yields surpassed the 3% level following the vote taken by the Greek parliament in favour of the austerity measures. Although the Central Bank lowered the bid price of the 5.25% MGS 2030 by 102 points this week to 100.48%, sustained demand for the stock helped the price rise to 101.51%.
  • Increased volumes in Bank of Valletta shares following the high acceptance rate from Property Fund investors. Over 26,000 BOV shares trade today with the price holding on to the €2.70 level. Yesterday afternoon the Bank announced that following the closure of the Offer to investors, it received acceptances totalling 95.2% of the shares of the Fund.
  • HSBC’s equity edged 0.7% higher to close at €2.92 on continued low volumes totalling 2,360 shares. Today’s upturn helped the equity rank as the only positive performer of the week. Further bids remain unsatisfied in the market at the €2.90 level with lowest offers at €2.94.
  • MaltaPost traded for the first time this week and closed unchanged at €1.015 after 4,925 shares were exchanged over a single transaction. The postal operator, which ranked as the best performer during Q1 2011, reversed most of its gains during the second quarter of the year as the equity fell 7.8% to €1.015.
  • GO plc’s equity closed unchanged at €1.38 after recovering from a low of €1.36. Low trading activity with only 2,779 shares changing hands. Lowest offers are now placed at €1.375 with highest bids at €1.34.
  • A further €138,000 worth of the 6.25% Mediterranean Bank plc bonds traded this morning with the price rising by 100 basis points to 101%. Last Monday the recently issued €5 million 6.25% Mediterranean Bank plc bonds were listed on the Official List of the Malta Stock Exchange however no trades have been affected in this tranche as yet. This second issued will be merged with the first tranche of bonds issued in late 2010 on the next interest payment date which is 30 October 2011.