Daily Market Highlights (04.02.11)

  • Recovery in last trading session of the week insufficient to offset declines in previous sessions. MSE Share Index ends the first week of February 0.3% lower. This morning, the Share Index was gained 0.1% to 3,865.625 points on the back of recoveries in BOV, GO, Lombard and Plaza. Download a copy of today’s Equity Market Summary.
  • Meanwhile local bond market turns positive today as the benchmark Eurozone yields slip to the 3.23% level following yesterday’s comments by the European Central Bank’s President Jean-Claude Trichet. During the press conference following the ECB’s decision to maintain its intervention rate at the historically low levels of 1%, Mr Trichet alluded that the ECB will not be raising its rate any time soon despite inflation being over the 2% target. The Rizzo Farrugia MGS Index edged 0.01% higher today to end the week minimally higher at 982.639 points.
  • Next Wednesday 9 February, the Treasury is expected to establish the prices of the two new Malta Government Stock issues. The two new MGS’s are the 4.25% MGS 2017 (III) and a fungible issue of the 5.25% MGS 2030 (I). The subscription period is open between Monday 14 February and Wednesday 16 February. Further details available here.
  • BOV gains a further 0.3% this morning to the €3.13 level representing a weekly increase of 1%. Fifteen trades totalling 23,651 shares effected today with further offers unsatisfied at the closing price whilst best bids now placed at the €3.115 level. This afternoon the Bank published its Interim Directors’ Statement revealing that the Group’s net profit for the first quarter of the current financial year is in line with that recorded in the previous comparable period but below expectations due to unrealised fair value mark downs on the Bank’s bond portfolio. Further details available here.
  • Meanwhile HSBC once again closes unchanged at the €3.50 level after easing from an intra-day high of €3.52 on volumes of 38,600 shares. Other bids outstanding at the last traded price with lowest offers placed at the €3.52 level. HSBC closed the week unchanged ahead of the Bank’s 2010 full-year results publication in two weeks’ time.
  • Lombard Bank continues to move higher as its share price added a further 0.3% today to reach the €3.00 level on activity of almost 22,600 shares. Lombard’s equity closes the week 1.4% higher and currently ranks as the second best performing equity of the year with a year-to-date rise of 7.1%.
  • GO plc recovers some of yesterday’s 0.7% drop to regain the €1.92 level on low volumes of 5,000 shares. Despite today’s upturn, the share price of the telecoms Group still ended the week 0.5% lower.
  • Plaza Centres climbs 11.3% to the €1.67 level on a single trade of 3,000 shares helping the equity recover from the recent losses.
  • The three other active equities, namely IHI, FIMBank and MIA, closed unchanged during this morning’s session.

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