Daily Market Highlights (04.10.11)

  • HSBC’s 0.8% increase helped the MSE Share Index rise by 0.2% to 3,114.590 points. The only two other active equities, namely BOV and IHI closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, Malta Government Stock prices continued to climb higher in line with the further drop in Eurozone yields closer to the 1.70% level as fears over a Greek default and the potential contagion effects push investors to ‘safe haven’ assets. Overall, the Rizzo Farrugia MGS Index climbed by another 0.3% to a week high of 995.216 points.
  • HSBC’s share price lifted 0.8% higher during this morning’s trading session to regain the €2.65 level across nine trades totalling almost 14,000 shares. Best bids in the market at €2.63 whilst lowest offers pitched at the €2.69 level.
  • Meanwhile BOV held on to the €2.50 level across twenty one trades amounting to over 26,000 shares. Few other bids unsatisfied at the last trading price whilst lowest offers now pitched at the €2.53 level. BOV generally publishes its full-year results by the end of October.
  • No change in the share price of IHI as 4,800 shares traded at the €0.80 level. Further offers outstanding at the closing price whilst best bids now at the €0.781 level.
  • This afternoon MIA revealed a 2.4% increase in passenger traffic during the month of September 2011 to 382,389 (a record for the month of September) movements when compared to the same month last year. MIA explained that this increase was mainly due to an 8.2% percentage point increase in the average seat load factor to 83.2% which offset the 7.8% decline in seat capacity to 459,425 seats. Overall, during the first nine months of 2011, MIA’s passenger movements have increased by 7.9% when compared to the same period last year – totalling 2,781,802 passenger movements. Further details of results available here. MIA shares inactive today with offers already placed below the last closing price of €1.57.
  • Farsons shares remained inactive today with lowest offers in the market at the last closing price whilst best bids placed at the €1.70 level. Last week, the Farsons Group published its interim results covering the six months ended 31 July 2011 revealing a 20.8% rise in profitability to €2.6 million. The Directors declared a net interim dividend of €0.0133 per share (equivalent to the previous interim dividend) to all shareholders as at close of trading on Tuesday 4 October. Therefore equity turns ex-dividend as from tomorrow. Further details on results available here.