Daily Market Highlights (03.04.12)

  • Local equity market back into negative territory amidst a general increase in trading activity totalling over €319,000. MSE Share Index eased 0.1% lower to 2,949.645 points following a 9.9% slump in the share price of GO which offset the increases in the share prices of HSBC, FIMBank and Farsons. Meanwhile the three other active equities, including BOV and MIA, ended the session unchanged. Download a copy of the Equity Market Summary.
  • Similarly, a spike in trading activity was registered across a number of Malta Government Stocks with volumes reaching a 2012 record daily high of €22.5 million. The Rizzo Farrugia MGS Index edged 0.1% higher to 982.655 points as Eurozone yields dropped back to the 1.80% level following the publication of unemployment data by the Eurozone which revealed a 25-year high unemployment level of 10.8%, equivalent to more than 17.1 million people.
  • This morning BOV closed subscriptions in relation to the issue of €40 million of Notes carrying a coupon of 4.25% and maturing in 2019 due to oversubscription.  The Bank is expected to publish the allocation policy in the coming days.
  • A new bout of sell orders forced GO’s share price 9.9% lower to a new all-time low of €0.756 across nine trades totalling just over 64,000 shares. Since the start of this year, GO’s equity plunged 22.9% (apart from the declines of 7.9% and 49.4% registered in 2010 and 2011 respectively) reflecting the significant negative impact of the Group’s substantial investment in Forthnet. GO is scheduled to hold its Annual General Meeting on 9 May.
  • On the other hand, FIMBank edged 1.2% higher to regain the US$0.88 level on the last day the equity traded with the entitlement to the dividend and bonus issue. A total of 61,800 FIMBank shares were exchanged during this morning’s session.
  • Even the equity of MIA traded for the last time with the entitlement to the final gross dividend of €0.0615 per share. However MIA’s share price ended the session unchanged at the €1.70 level across three trades totalling 12,100 shares. The airport operator is scheduled to hold its Annual General Meeting on 10 May.
  • Simonds Farsons Cisk shares were active for the first time in almost a month with over 18,300 shares changing hands during this morning’s session. The share price moved 2.9% higher to close at the €1.77 level ahead of the Farsons Group’s full-year results for the financial year ended 31 January 2012 which are generally published by the end of April.
  • HSBC’s share price also in positive territory with a 0.4% rise to regain the €2.55 level across three trades totalling 2,400 shares. Other offers unsatisfied at the closing price whilst best bids pitched at the €2.515 level. HSBC’s Annual general Meeting to be held on Wednesday 18 April.
  • Meanwhile BOV maintained the €2.13 level on increased volumes of over 78,900 shares. Best bids in the market at €2.125 whilst lowest offers pitched at the €2.20 level.
  • Likewise, MaltaPost’s equity was unchanged at the €0.94 level on volumes of 3,000 shares. Few other offers in the market outstanding at the last closing price whilst best bids placed at the €0.93 level.