Daily Market Highlights (06.04.11)

  • MSE Share Index down for the second consecutive session as subdued investor sentiment persists. Share Index edges another 0.2% lower to a fresh 5-month low of 3,455.065 points as BOV, Farsons and Plaza decline and offset GO’s 0.7% increase. Meanwhile HSBC and MIA closed unchanged. Download a copy of today’s Equity Market Summary.
  • Rizzo Farrugia MGS Index down 0.1% to 973.083 points on further increases in the benchmark 10-year Eurozone yield. Significant trading volumes in Malta Government Stocks this morning following an announcement by the Central Bank of Malta that it will be offering stock in 3 specific issues, 7.8% MGS 2018 (I), 5.0% MGS 2021 (I) and the 5.25% MGS 2030 (I). Volumes amounting to €25 million nominal traded in the 7.8% MGS 2018 (I) and over €2.3 million traded in the 5.25% MGS 2030 (I).
  • BOV’s share price sheds another 0.7% back to the €2.92 level on volumes of over 21,600 shares. Further offers unsatisfied at the closing price whilst best bids now placed at €2.905. Half-year results to 31 March expected to be issued by the end of April.
  • Meanwhile HSBC again holds on to the €2.95 level across ten trades amounting to just under 12,100 shares. Further bids outstanding at the last traded price whilst lowest offers still pitched at the €2.96 level. Tomorrow the Bank is scheduled to hold its Annual General Meeting while the net final dividend of €0.05 per share will be paid on 21 April.
  • GO in positive territory for the first time this week as its share price moved 0.7% higher to regain the €1.49 level. Over 9,300 shares exchanged today with further offers unsatisfied at the closing price and best bids now placed at the €1.47 level. Equity will turn ex-dividend on 5 May.
  • On the other hand, Simonds Farsons Cisk dropped by 1.2% to its 2011 low of €1.68 again on very low volumes of 251 shares. The Farsons Group generally publishes its January full-year results by the end of April.
  • Similarly, Plaza Centres slumped 5.6% to the €1.70 level on a single trade of 1,000 shares. This was the first trade since the equity turned ex-div on 26 March. The Company is scheduled to hold its Annual General Meeting on 24 May during which shareholders will be asked to approve a number of resolutions including the final gross dividend of €0.116 per share.
  • The only other active equity, MIA, maintained the €1.76 level across two trades amounting to 2,230 shares. Offers already placed lower at €1.759 whilst best bids still in the market at the €1.58 level.
  • RS2 Software announced that it will be publishing its 2010 financial results on Tuesday 12 April. Another three companies with a December year-end still have to publish their 2010 accounts. These are: MIDI, 6pm Holdings and GlobalCapital.
  • Last week 6pm announced that it published a Prospectus with respect to a rights issue of 10,788,000 new ordinary shares at the price of £0.25 per share. Shareholders are entitled to subscribe to 1.4384 new shares for every share held. The rights issue opens on Monday 11 April and closes on Friday 29 April at 14.00 hours. Further details available here.