Daily Market Highlights (06.02.12)

  • Local equity market commences this week in negative territory as the MSE Share Index slipped 1.4% lower to a new 28-month low of 3,012.324 points as the share prices of HSBC, IHI, GO and RS2 Software decline. Meanwhile, the only other active equity, BOV, edged 1.1% higher. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index moved lower for the first time in eight sessions. Internationally, the focus remains on Greece as the debt ridden country failed to reach an agreement with private investors whilst also negotiating another bailout from the European Union and the International Monetary Fund. Tomorrow afternoon, the Treasury of Malta will publish the statistics of the February 2012 Malta Government Stock issues following the noon deadline for submission of tenders. A total of €300 million is on offer across three stocks.
  • The worst performer of the day was IHI with a decline of 8.5% to a fresh 19-week low of €0.75 across 8,244 shares. Other bids unsatisfied at the closing price with lowest offers at the €0.79 level.
  • RS2 Software’s equity plunged 8.3% to a 5-month low of €0.55 across two trades totalling 40,000 shares.
  • HSBC also in negative territory with a slight decline of 0.4% back to the €2.56 level on an insignificant deal of 400 shares. Further bids outstanding at the last traded price with lowest offers at €2.565. The Bank is scheduled to publish its 2011 full-year results on Friday 24 February.
  • A last minute trade helped GO’s equity recover from its all-time low of €0.85 to close just minimally below the previous closing price at the €0.889 level. Eight trades totalling 13,025 shares were transacted today as investors await an update from Forthnet in view of the surpassed deadline by its bankers to raise €30 million by the end of January.
  • On the other hand, BOV’s share price reversed some of last week’s 1.8% drop as it edged 1.1% higher to regain the €2.235 level across nine trades totalling 10,100 shares. A further 1,167 shares on offer at the closing price with highest bids at €2.21.