Daily Market Highlights (02.11.10)

  • Bank shares hold on to yesterday’s strong gains. MSE Share Index edges minimally higher to 3,529.016 points this morning on increases in Lombard and MaltaPost. High trading activity in BOV shares. Download a copy of today’s Equity Market Summary.
  • BOV closes minimally lower at €3.699, thereby holding on to yesterday’s 10% gain in reaction to the September 2010 full-year results. Share price opens 1.35% higher at €3.75 but eases to €3.699 on some profit taking. Trading activity remains high with over 59,800 shares changing hands. Investors as at close of trading next Friday 5 November will be entitled to a final gross dividend of €0.16 per share. Details of financial results available here.
  • HSBC maintains the €3.00 level after recouping from an intra-day low of €2.95. Volumes decline to only 4,160 shares with further offers unsatisfied at the closing price.
  • A small trade of 400 Lombard Bank shares executed at the €2.77 level representing a 0.7% rise over yesterday’s close. Yesterday, the Lombard Group published its Interim Directors’ Statement revealing that the Group is on track to achieve another set of positive results for the year ending 31 December 2010. Further details available here.
  • GO unchanged at the €1.87 level after recovering from an intra-day low of €1.83 across 9,600 shares. GO also issued its Interim Directors’ Statement yesterday explaining that due to the continued rise in revenue coupled with cost savings measures, the Group achieved a positive performance during the third quarter of 2010. Further details available here.
  • Meanwhile IHI fails to recover from yesterday’s 2.5% drop as another 10,100 shares trade at the €0.78 level. Best bids still placed at €0.72 whilst lowest offers now pitched at the €0.80 level.
  • MaltaPost’s share price inches 0.1% higher to €0.911 on a single deal of 2,115 shares. Further bids outstanding at the last traded price whilst lowest offers now in the market at the €0.96 level.
  • On the Alternative Companies List, the equity of Loqus Holdings (formerly Datatrak) was active for the first time since 27 September. The share price slumped 43.8% to the €0.18 level on a single trade of 1,424 shares. The Group has yet to publish its financial statements for the financial year ended 30 June 2010.
  • Early last week, the Treasury announced two new Malta Government Stock issues. The 2 new stocks are: (i) 3.75% MGS 2015 (VI) (Fungible Issue) and (ii) 5.25% MGS 2030 (I) (Fungible Issue). Prices will be determined on Thursday 4 November 2010 and the subscription period will take place between 8 and 10 November. Further details available here. Meanwhile prices on the secondary market have edged marginally upwards during the last two sessions as the benchmark 10-year Eurozone yield retreated to the 2.45% level.

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