Daily Market Highlights (02.09.11)

  • MSE Share Index lifted 0.2% higher today to 3,078.788 points as HSBC, BOV & GO trade higher. RS2 Software trades unchanged on high activity. Despite the upturn registered in the last two sessions, the local equity benchmark still ended the week 0.2% lower as the declines in GO, MIA and MIDI offset the 5.5% jump in RS2 Software and the marginal recoveries across HSBC, BOV and MaltaPost. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index gained 0.4% as Eurozone yields slid back below the 2.10% level. Over the week, the Rizzo Farrugia MGS Index rose by 0.2%.
  • Significantly volumes transacted in RS2 Software shares amounting to almost 355,000 shares (just under 1% of the issued share capital). Equity unchanged at the 20-month high of €0.58 with lowest offers now placed at the €0.59 level. RS2 ranked as the best performing equity with a weekly jump of 5.5% following the publication of the 2011 interim results revealing a substantial improvement in profitability on the back of increased licence sales. Further details on the results available here.
  • HSBC share prices inched 0.4% higher today to regain the €2.67 level across fifteen trades totalling 31,400 shares. Other offers unsatisfied at the closing price whilst best bids in the market at €2.64. For the first time in four weeks, equity ended the week in positive territory with a 0.8% rise.
  • Similarly BOV ended this week in positive territory also for the first time in the past four weeks. Share price up 0.4% to reach the €2.52 level.  Almost 29,000 shares traded today with best bids in the market at €2.505 whilst lowest offers pitched at the €2.54 level. During the week, over 142,000 BOV shares traded.
  • GO closed today’s session minimally higher at €1.201 but still ended the week 5.1% lower after the quad-play telecom operator revealed an increased loss of €17.8 million for the first six months of 2011. The deteriorating performance at GO is due to the continued adverse impact emanating from its indirect investment in the Greek telecommunications group, Forthnet, which reported a loss of almost €60 million following a further €38.2 million impairment on its pay-TV business. Further details available here.
  • No trades have been recorded in the shares of Medserv plc, Grand Harbour Marina plc and 6pm Holdings plc despite the recent publication of their respective 2011 half-year results.