Daily Market Highlights (01.09.11)

  • MSE Share Index inched minimally higher today to 3,072.397 points as the positive performances in the share prices of HSBC and RS2 offset the 0.8% decline in GO. Meanwhile BOV and IHI closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index slid 0.2% lower back to the 988.327 points level. This was in line with the marginal recovery in benchmark Eurozone yields to around the 2.20% level. The most notable development in the corporate bond market was a continued recovery in the price of the 7.5% Mediterranean Investments Holding plc 2014 to 97% compared to a low of 80% shortly after the uprising in Libya a few months ago.
  • Following yesterday’s 4.4% drop, GO eased a further 0.8% lower to drop back to its all-time low of €1.20 on a small trade of 640 shares. The renewed downturn reflects the increasing concerns about the future financial performance of the Group after it reported a loss of €17.8 million for the first six months of 2011 following the deteriorating performance of Forthnet which is offsetting the profitable operations in Malta. Further details available here.
  • Meanwhile RS2 Software edged a further 0.2% higher to close at a 20-month high of €0.58 on a single trade of 3,500 shares. The IT Company revealed a significant improvement in pre-tax profits to €1.6 million following the conclusion of a number of licence sales which already exceeded the Directors’ expectation for the whole of 2011. Further details available here.
  • HSBC edged 0.4% higher to regain the €2.66 level across 7 trades totalling 13,000 shares. Best bids still in the market at €2.65 whilst lowest offers pitched at the €2.70 level.
  • Activity in BOV shares declines on lack of further offers at the €2.51 level. Only 231 BOV shares changed hands at the €2.51 level with unsatisfied bids amounting to almost 19,000 shares at the last closing price.
  • The only other active equity, IHI, closed unchanged at the €0.73 level on volumes of almost 9,300 shares. Other bids unsatisfied at the last traded price with lowest offers at the €0.75 level.