Daily Market Highlights (05.09.11)

  • MSE Share Index in positive territory for the third successive session mainly due to the continued recovery across the two large banks. IHG Holdings also edged higher as the shares traded for the first time in six weeks whilst MIA closed unchanged prior to the release of the August traffic results. Download a copy of today’s Equity Market Summary.
  • In contrast, foreign equity markets are deep in negative territory on the back of further concerns with respect to the economic recovery in the United States and mainland Europe. Last Friday stockmarkets in the US registered losses of more than 2% which were also reflected across Asia and Europe this morning. The FTSE 100 is currently down 2.2% and the DAX is 3.9% below last Friday’s closing value.
  • Renewed concerns on economic performances sent Eurozone yields this morning to slip to 1.96% triggering a sharp rise in MGS bid prices quoted by the Central Bank of Malta. As a result, the Rizzo Farrugia MGS Index jumped 0.3% higher today to a new 2011 high of 995.574 points. The 4.25% MGS 2017 issue traded up to an all-time high of 104.71%. Yields remained under pressure this afternoon touching a new all-time low of 1.891%.
  • BOV continued to build on last week’s 0.4% rise with an increase of a further 0.8% during this morning’s session to regain the €2.54 level. Six trades totalling almost 10,200 shares were transacted today.
  • Similarly, following last week’s 0.8% rise, HSBC’s share price registered an identical increase today to close at the €2.69 level on volumes of just under 11,000 shares. Best bids now placed at €2.66 with lowest offers at the €2.70 level.
  • Three trades totalling 5,000 MIA shares executed today. Share price unchanged at the €1.52 level. This afternoon, the airport operator issued the August 2011 traffic statistics revealing a minimal decline of 0.1% from the all-time monthly record of 427,924 passenger movements recorded in August 2010. Following the August results, MIA registered an 8.5% increase in passenger movements to just under 2.4 million since the start of the year. Further details avilable here.
  • No trades affected in IHI shares following the announcement made yesterday afternoon with respect to the Corinthia Hotel in Tripoli. Further details available here. Bids totalling over 16,000 shares placed at €0.74 with lowest offers at €0.80.