Daily Market Highlights (06.10.10)

  • Local equity market in negative territory for the third consecutive session. MSE Share Index eases marginally lower to 3,384.689 points as BOV’s 0.2% decline offsets the marginal increase in MIA.  Meanwhile the other four active equities, including HSBC, close unchanged. Download a copy of today’s Equity Market Summary.
  • Malta Government Stock prices sharply lower today as the benchmark 10-year Eurozone yield reached an intra-day high of 2.28% this morning. Naturally the most affected were the longer dated paper with the 5.25% MGS 2030 (I) slipping 52 basis points to 103.98% triggering a further reduction in volumes. Only €257,200 (nominal) in the 20-year stocks changed hands today, contrasting the €3.1 million worth of deals executed on Monday.
  • BOV reverses some of the recent gains as its share price eases 0.2% lower to €3.275. Volumes remain high at 18,663 shares ahead of the publication of the full-year results due by the end of October. Best bids now in the market at €3.27 whilst lowest offers pitched a the €3.28 level.
  • Meanwhile HSBC maintains the €2.80 level after slipping from an intra-day high of €2.82. Six trades amounting to 21,000 shares executed today with further bids unsatisfied at the closing price whilst lowest offers now in the market at the €2.82 level.
  • MIA edges 0.6% higher to €1.529 on volumes of 9,458 shares. Further offers remain unsatisfied at the last traded price. On Monday, the airport operator published its September traffic results revealing a 15.4% increase in passenger numbers during the month. Further details available here.
  • FIMBank maintains the US$0.95 level during this morning’s session across two trades amounting to 19,360 shares. Details of FIMBank’s upcoming €25 million 4.25% bond issue available here together with a copy of the Prospectus.
  • MaltaPost and Grand Harbour Marina also close unchanged. A single trade of 1,063 MaltaPost shares transacted at the €0.90 level. GHM active for the first time since 14 September with 5,000 shares changing hands at the €1.96 level.
  • Yesterday Bay Street Finance plc announced that it will be writing to all holders of its 8% Bonds inquiring whether such investors would wish to sell their Bonds back to the Company at the price of 102%. This offer is valid for a 1 month period between 15 October 2010 and 15 November 2010. Further details on this offer is available here.

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