Daily Market Highlights (04.01.11)

  • Second successive negative session in the new year for the local equity market. MSE Share Index drops 0.2% as the declines in BOV and HSBC outweigh the 4.2% rise in the share price of of Island Hotels Group. Meanwhile MIA and MaltaPost close unchanged. Download a copy of today’s Equity Market Summary.
  • Bond market also in negative territory as the benchmark Eurozone yield partially recovered from yesterday’s plunge to regain the 2.93% level. As a result, the Rizzo Farrugia MGS Index slipped 0.09% lower to 993.156 points.
  • HSBC closes 0.3% lower at €3.189 level after touching an intra-day high of €3.22. For the second time in the space of a week over 100,000 HSBC shares changed hands during a single session. This morning a total of 109,000 shares were exchanged with two 50,000-share deals effected at €3.21 and €3.22. The Bank usually publishes its full-year results by the end of February.
  • BOV in negative territory for the first time in eight sessions. Share price opened higher at €3.899 before slipping back to the €3.87 level representing a 0.5% drop from the previous close. Just over 34,000 shares trade today with best bids now at €3.85 whilst lowest offers placed at the €3.89 level. Shareholders on the register as at close of trading next Friday 7 January 2011 will be entitled to the 1 for 5 bonus issue which was approved by shareholders during the recent Annual General Meeting.
  • Island Hotels Group continues to recover from its recent decline as its share price increases by another 4.2% to regain the €0.99 level. Two trades amounting to 5,000 shares transacted this morning with a further 44,000 shares on offer at the last traded price.
  • MIA unchanged at its 2010 high of €1.66 after recovering from an intra-day low of €1.65 on volumes of 6,000 shares. Further offers outstanding at the closing price whilst best bids now in the market at the €1.62 level.
  • MaltaPost also recovers from an intra-day low of €0.98 to maintain its all-time high of €1.00 ahead of the publication of the September 2010 full-year results tomorrow. Two trades amounting to 3,639 shares effected today with best bids still pitched at the €0.95 level whilst other offers remain unsatisfied at the closing price.

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