Daily Market Highlights (03.06.10)

  • MSE Share Index pushed a further 0.6% lower to 3,454.987 points as most active equities close in negative territory. Only BOV edges higher with MIA trading unchanged at the adjusted price of €1.575. Following today’s downturn, the Index is now 0.2% lower than its closing value of 2009. Download a copy of today’s Equity Market Summary.
  • Earlier this week both Simonds Farsons Cisk plc and Eden Finance plc closed their respective bond offerings due to oversubscription. The issuers will publish their respective allocation policies in the next few days.
  • HSBC’s negative run persists. The banking equity dropped a further 1% to close at a new 2010 low of €2.94 on volumes of 15,767 shares. Best bids now placed at €2.93 whilst other offers remain unsatisfied at the closing price.
  • Meanwhile BOV again moves in the opposite direction. Share price edges marginally higher to close at the €3.285 level on low volumes of just over 6,800 shares. Bids already placed minimally higher at €3.286 whilst lowest offers now pitched at the €3.37 level.
  • MIA closes unchanged at the post-share split adjusted price of €1.575 across eight trades amounting to 17,400 shares. Best bids in the market at €1.56 whilst lowest offers pitched at the €1.58 level. Today the airport operator published its monthly traffic results with respect to the month of May 2010. The statistics show a 19.3% in passenger movements compared to May 2009. MIA explained that this increase was mainly due to the rise in seat capacity following the introduction of additional routes especially by Ryanair which now has an aircraft based in Malta. Despite the disruptions in European air space caused by the volcanic ash, the Malta airport still recorded a 7.7% increase in passenger movements during the first five months of the year compared to the respective period last year.
  • Single trades transacted in the other two large caps, namely IHI and GO. IHI eases 0.4% lower to close at €0.822 while the telecoms company retreats by a further 1.2% to its 2010 low of €2.05 .
  • Thin trades executed in Simonds Farsons Cisk plc totalling 733 shares. Share price slumps 2.7% to the €1.80 level with bids already placed higher at €1.85 whilst lowest offers still placed at the €2.00 level.
  • Lombard Bank share price declines by 1.9% to the €2.865 level on a single trade of 1,300 shares. Its postal subsidiary, MaltaPost, edges minimally lower to close at the €0.899 level on volumes of 4,200 shares.

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