Daily Market Highlights (02.04.12)

  • Local equity market kicks off the second quarter of the year on a positive note as the active banking equities traded higher. In fact, the MSE Share Index moved 0.5% higher to 2,953.121 points following increases in the share prices of HSBC, BOV and FIMBank. Meanwhile the three other active equities all closed unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index moved back into negative territory with a marginal decline back to 982.149 points as Eurozone yields edged minimally higher. International markets digested last week’s decision by the Eurozone finance ministers to bolster its defence against the prevailing sovereign debt crises whilst also awaiting the publication of economic data by France, UK, Germany, the eurozone and the United States.
  • Subscriptions in relation to the issue of the second series of Notes of BOV under its €125 million Debt Issuance Programme opened today. The first tranche of this second series includes a €40 million issue of Notes carrying a coupon of 4.25% and maturing in 2019. Further details on the new notes together with copies of the Final Terms and other relevant documentation available here.
  • HSBC continued to build on last week’s 0.5% increase with a further 1% rise to the €2.54 level. Two trades totalling only 1,100 shares were transacted today with best bids already placed higher at €2.55 and lowest offers at the €2.57 level. The Bank is scheduled to hold its Annual General Meeting on 18 April.
  • BOV partially recovered from last week’s 4.5% decline with a 0.5% rise during this morning’s session to the €2.13 level across ten trades amounting to over 12,800 shares. The bank’s interim results to 31 March 2012 are generally published by the end of April.
  • Similarly, new bids helped FIMBank’s equity reverse last week’s 2.3% drop with an equivalent rise during today’s session to regain the US$0.87 level. Three trades totalling 54,200 shares were transacted today with best bids in the market at US$0.85 and lowest offers at the US$0.879 level.
  • On the other hand, GO held on to last week’s 4.9% jump as another 555 shares changed hands at the €0.839 level. However offers are already placed lower at the €0.83 level. GO is scheduled to hold its Annual General Meeting on 9 May.
  • Shallow trading activity also across Medserv shares with a small deal of 190 shares taking place at the €3.95 level, unchanged from the previous close. Further offers unsatisfied at the closing price whilst no bids in sight. The equity is still trading with the entitlement to the recently announced final net dividend of €0.03 per share. Equity will turn ex-dividend as from 11 April.
  • MIA’s equity recovered from an intra-day low of €1.689 to close unchanged at the €1.70 level across five trades totalling 4,650 shares. Best bids in the market at €1.562 whilst lowest offers pitched at the €1.719 level. The cut-off date for the final gross dividend of €0.0615 per shares is Wednesday 4 April.