Daily Market Highlights (07.02.11)

  • MSE Share Index marginally higher today to reach 3,866.725 points as gains in the share prices of IHI, MIA and Middlesea offset BOV’s 2.9% drop. 9 equities active today with high volumes in IHI and BOV shares. On the other hand, the Rizzo Farrugia MGS Index slides back into negative territory with a 0.1% decline to 981.631 points as the benchmark yields regain the 3.25% level. Download a copy of today’s Equity Market Summary.
  • Next Wednesday 9 February, the Treasury is expected to establish the prices of the two new Malta Government Stock issues. The two new MGS’s are the 4.25% MGS 2017 (III) and a fungible issue of the 5.25% MGS 2030 (I). Subscriptions are open between Monday 14 February and Wednesday 16 February. Further details available here.
  • BOV’s share price declines 2.9% on high volumes in reaction to last Friday’s Interim Directors’ Statement. In their statement, the Directors explained during the three months ended 31 December 2010, the BOV Group generated a net profit in line with that reported for the same period in the previous financial year. However the profitability which has not been disclosed is below expectations mainly due to the fair value markdowns incurred by the Bank on its international bond portfolio. Further details available here. BOV’s share price slumps to an intra-day low of €3.01 before recovering to a close of €3.04 representing a 2.9% drop from the previous close. 195,000 shares change hands today across 71 trades.
  • Meanwhile a further 67,753 HSBC shares traded unchanged at the €3.50 level ahead of the Bank’s 2010 full-year results publication on Friday 18 February. Best bids now placed at €3.48 whilst lowest offers still pitched at the €3.52 level.
  • IHI share price advances by 2.6% to the €0.975 level on activity in excess of 877,000 shares. Offers already placed marginally below at €0.97 whilst best bids still in the market at the €0.94 level.
  • High volumes also transacted in MIDI and FIMBank. 100,000 MIDI shares change hands at its recent offer price of €0.45, unchanged from the previous close. FIMBank also maintains the US$0.95 level across two trades totalling 75,000 shares.
  • MaltaPost holds on to last week’s gains as further shares amounting to over 29,000 at the €1.05 level. Best bids now placed at €1.00 whilst lowest offers still pitched at the €1.07 level. The Company is scheduled to settle the final net dividend of €0.04 per share next Friday 11 February.
  • MIA back into positive territory as the equity advanced by 2.9% to regain the €1.80 level on low volumes of 2,800 shares. Last Friday the airport operator revealed a 14.9% increase in passenger movements during the month of January to a new record high of 169,673 passengers. Further details available here.
  • Middlesea Insurance also 4.9% higher to the €1.07 level on volumes of 7,223 shares. The insurance company is due to publish its 2010 full-year results on 14 March.
  • A last minute trade helps GO recoup from an intra-day low of €1.919 to close unchanged at the €1.92 level across 2,500 shares.

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