Daily Market Highlights (05.10.11)

  • MSE Share Index up another 0.1% today to close at 3,117.618 points as Lombard Bank and RS2 Software trade higher. Meanwhile the share prices of the two large banks traded unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to 993.996 points as Eurozone yields marginally recovered. This followed the news regarding plans by the EU finance ministers to replenish the capital of the region’s banks. The International Monetary Fund estimates that European Banks need between €100 billion and €200 billion to strengthen their capital base. This announcement offset the credit rating downgrade of Italy’s sovereign debt by Moody’s of three positions from Aa2 to A2.
  • Lombard Bank’s share price recovered some of its recent losses as new bids lifted the equity 2.3% higher to the €2.679 level across three trades amounting to 2,000 shares. Further offers amounting to 8,590 shares remain unsatisfied at the closing price.
  • RS2 Software also in positive territory as its share price advances by 1.7% to regain the €0.59 level. Two trades amounting to over 22,000 shares with best bids in the market at €0.58 and lowest offers at the 2011 high of €0.60.
  • HSBC unchanged at €2.65 across four trades totalling over 6,300 shares. Best bids still in the market at €2.63 whilst lowest offers now pitched at €2.658 level.
  • BOV continues to trade at the €2.50 level. Further offers unsatisfied at the last traded price with best bids now placed at the €2.48 level. BOV generally publishes its full-year results by the end of October.
  • MIA shares inactive today despite yesterday’s announcement revealing a 2.4% increase in passenger traffic during the month of September 2011 to 382,389 movements (a record for the month of September). 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.
  • Farsons shares also failed to trade after turning ex-dividend. 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) which will be paid on 21 October. Further details on results available here.