Daily Market Highlights (07.01.10)

  • Dismal start to the new year as the local equity market index registers five consecutive sessions of declines. MSE Share Index sheds a further 0.1% this morning as HSBC’s 1.3% gain was offset by the declines in BOV and MaltaPost. Meanwhile IHI and MIA closed unchanged. Download a copy of today’s Equity Market Summary.
  • Meanwhile bonds kicked off the new year on a positive note. The Rizzo Farrugia MGS Index edged up 0.1% to 993.506 points as the benchmark 10-year Eurozone yield ended this week lower at the 2.93% level.
  • BOV in negative territory also during the last day for investors to gain entitlement to the 1 for 5 bonus issue. Share price slumped a further 1.9% this morning back to the €3.70 level across twelve trades totalling just below 13,000 shares. Following the slide in BOV shares during the last four sessions, the equity ended the first week of 2011 with a 4.1% drop. BOV turns ex-bonus as from next Monday.
  • Meanwhile HSBC recovers by 1.3% today to regain the €3.20 level on higher volumes of 75,526 shares. However the banking equity still closed the week 1.7% down. The Bank generally publishes its full-year results by the end of February.
  • IHI failed to recover from last Wednesday’s 4.8% as another 4,340 shares changed hands at the €0.90 level. IHI’s equity ranks as the worst performing equity this week in contrast to the strong upturn in recent weeks.
  • MaltaPost shares decline 1% below its all-time high of €1.00 across five trades totalling 13,863 shares. Earlier this week the postal operator reported its financial statements for the year ended 30 September 2010. The financial statements reveal a 7% rise in profitability to €2.1 million. The Directors also recommended a final net dividend of €0.04 per share but the equity is already trading ex-dividend. Further details available here.
  • MIA maintained its 2010 high of €1.66 on a single trade of 2,200 shares. Best bids in the market at €1.65 whilst lowest offers now pitched at the €1.70 level. Investors now eagerly await the publication of the full-year passenger numbers and the 2011 forecast.
  • On the Alternative Companies List, Loqus Holdings plunged 20% back to the €0.16 level on a small deal of just 300 shares.

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