Daily Market Highlights (04.11.2010)

  • The MSE Share Index closes in the red for the second session this week as HSBC’s 1.7% decline in share price outweighs the minor rise in BOV’s equity. Index retreats by 0.44% to close at 3,483.985 points. The other active equities GO, IHI and Lombard close unchanged. Download a copy of today’s Equity Market Summary.
  • Today, MIDI plc announced that it has been granted approval by the Listing Authority of the MFSA to issue 44,444,444 shares at a price of €0.45 per share with an over-allotment option of up to a further 22,222,222 shares. Further details available here.
  • BOV edges 0.3% higher to close at €3.66 after trading between a high of €3.70 and a low of €3.62. Volumes remain strong with 37,366 shares executed across 33 transactions. The shares will continue to trade with the entitlement to the final gross dividend of €0.16 per share until tomorrow. Details of financial results available here.
  • HSBC closes in negative territory for the second consecutive session as support above the €2.90 level fades. Share price slips another 1.7% to close at €2.90 across five trades totalling 5,500 shares. Further offers remain unsatisfied at the closing price whilst best bids now placed substantially lower at the €2.505 level.
  • Lombard Bank’s equity closes unchanged at €2.77 level on activity of 2,600 shares. On Monday, the Lombard Group published its Interim Directors’ Statement revealing that the Group is on track to achieve another set of positive results for the year ending 31 December 2010. Further details available here.
  • GO remains unchanged at the €1.87 level on minimal volumes of only 500 shares. The telecoms company also issued its Interim Directors’ Statement on Monday explaining that due to the continued rise in revenue coupled with cost savings measures, the Group achieved a positive performance during the third quarter of 2010. Further details available here.
  • IHI too continues to trade at the €0.78 level with a further 14,421 shares changing hands. Best bids still placed at €0.72 whilst lowest offers now pitched at the €0.80 level.
  • Today the benchmark 10-year Eurozone yield surged to 2.49% after the US Federal Reserve announced it would buy $600 billion in Treasuries at a slower pace than some analysts anticipated. The Central Bank of Malta Stockbroker lowered its bid prices for the longer dated Malta Government Stocks with the 20-year government paper falling 10 basis points to 102.00%.
  • Early last week, the Treasury announced two new Malta Government Stock issues. The 2 new stocks are: (i) 3.75% MGS 2015 (VI) (Fungible Issue) and (ii) 5.25% MGS 2030 (I) (Fungible Issue). Prices will be determined this afternoon and the subscription period will take place between 8 and 10 November. Further details available here.

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