Daily Market Highlights (06.06.2011)

  • The MSE Share Index closes this morning’s trading session 0.4% lower at 3,364.970 points as the majority of the active equities including heavy-weights HSBC and IHI close lower and offset the gains registered by MIA and Middlesea. BOV closed the day unchanged at €2.74. Download a copy of today’s Equity Market Summary. On the local bond market, the Rizzo Farrugia MGS Index edged a further 0.1% lower to 974.477 points as benchmark Eurozone yields rose to 3.03%. No trading on the Malta Stock Exchange will take place tomorrow due to a public holiday.
  • BOV’s equity ends this morning’s trading session unchanged at €2.74 after touching an intra-day high of €2.76. Just over 21,000 shares exchanged this morning across 11 trades with further bids placed at the closing price. The Bank recently offered €0.75 for each share in the La Valette Multi Manager Property Fund. Eligible investors have until 30 June to respond to this offer. If all investors accept this offer, BOV’s income statement will be hit with a €14.5 million impairment charge.
  • HSBC’s equity eases by 0.3% to close at €2.94 on volumes totalling 12,690 shares. Further offers remain unsatisfied at the last traded price whilst best bids are pitched at the €2.91 level.
  • A single trade of 1,551 IHI shares was transacted at the €0.82 level, representing a 1.2% decline from the previous close. Further bids remain unsatisfied at the closing price.
  • MIA’s share price edges a further 0.6% higher to close at €1.74 across five trades totalling 12,440 shares. This week MIA is expected to publish its May traffic statistics. Meanwhile on 27 July MIA is expected to publish its financial statements for the six months ending 30 June 2011.
  • A miniscule deal of 460 Middlesea Insurance plc shares helped the share price rise by 1% to close at the €1.00 level. Further bids in the market at the €1.00 level with lowest offers placed at €1.01. The market is still waiting for further details with respect to the mandatory offer to be launched by Mapfre Internacional in the event that the MFSA approves its acquisition of Munich Re’s 19.9% shareholding. The BOV Group has already announced that it will not be tendering its shares.
  • MIDI plc’s share price edges 0.9% lower to €0.435 over a single trade of 1,000 shares. No further bids in sight with further offers placed at the closing price.
  • Lombard’s equity declines by 3% to €2.84 over one trade of 1,000 shares as it traded for the first time in almost a month. Best bids are now pitched significantly below the closing price at €2.70.