Daily Market Highlights (02.12.10)

  • MSE Share Index up 0.1% to 3,469.364 points as HSBC and BOV close in positive territory outweighing the minimal decline in Middlesea Insurance. Volumes in the equity market remain low with higher activity in bonds. Download a copy of today’s Equity Market Summary.
  • Central Bank of Malta Stockbroker revised downward its Malta Government Stock bid prices for the second consecutive session in line with the sustained rise in the benchmark 10-year Eurozone yield to a new 6-month high of 2.81%. Another €214,900 (nominal) traded in the recently listed 5.25% MGS 2030 (I) FIB with its share price closing 75 basis points higher at the 103.85%.
  • Fresh bids helped HSBC’s share price rise 0.4% to regain the €2.90 level on volumes of 7,800 shares. Lowest offers now pitched at €3.00 whilst best bids in the market at the €2.882 level.
  • BOV recoups yesterday’s miniscule drop to regain the €3.70 level across nineteen trades totalling just over 13,000 shares. Further offers unsatisfied at the closing price whilst best bids still in the market at the €3.68 level. Investors acquiring BOV shares until 7 January 2011 will be entitled to the 1 for 5 bonus issue. BOV’s Annual General Meeting will take place on Thursday 16 December.
  • Middlesea Insurance edged a further 0.2% lower to close at the €1.045 level on a single trade of 2,000 shares. Further bids outstanding at the close price whilst lowest offers pitched marginally higher at the €1.048 level.
  • GO maintained the €1.90 level after recovering from an intra-day low of €1.87 across two deals amounting to 2,000 shares. Other offers unsatisfied at the last traded price whilst best bids still placed at the €1.87 level. Yesterday, Forthnet announced further open market acquisitions by Cyrte Investments GP I B.V. raised its stake to a total of 37,807,737 shares representing 24.3% of the total share capital of Forthnet. Following the recent acquisitions, Cyrte Investments is now the second largest shareholder.
  • Crimsonwing still inactive despite the recent publication of its half-year results. The accounts covering the six months ended 30 September showed an improvement in revenue, EBITDA and pre-tax profit. However the Group is still dealing with operational challenges at the Dutch operation Crimsonwing BV. Further details available here.

Comments are closed.