Daily Market Highlights (05.09.12)

  • The MSE Share Index regained some of yesterday’s 2.3% drop as the upturn in BOV helped the local equity benchmark rise by 0.5% to 3,059.239 points. No other equity traded today. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 995.858 points as Eurozone yields retreated back to the 1.36% level this morning before a German bond auction. However, Germany only managed to sell €3.61 billion of the €5 billion 5-year paper on offer triggering a rise in benchmark Bund yields to above the 1.45% level as investors demanded a higher return. Markets now await the details of the planned bond buying programme of the European Central Bank (ECB) following the monthly monetary policy meeting scheduled for tomorrow.
  • The equity of BOV was subject to further volatility this morning as the share price advanced by 2.1% to regain the €2.20 level across five trades totalling 8,855 shares. Further offers unsatisfied at the closing price whilst best bids pitched at the €2.165 level.
  • No other shares were active during this morning’s session as the increased volumes seen in the market last week following the initial reaction to the recently published half-year results faded away.
  • This afternoon, MIA published its traffic results for the month of August which showed an all-time monthly record of 461,153 passenger movements mainly due to the 7.5% increase in the seat load factor. Last July MIA had forecast a 1.5% growth in passenger forecast for 2012 to a new record of 3.56 million passengers. However, following the new record passenger movements during the peak summer months, MIA has so far registered a 3.7% increase in passenger movements to 2,487,903 during the first eight months of 2012.
  • Yesterday evening Crimsonwing announced that it will be holding its Annual General Meeting on 17 October.