Daily Market Highlights (07.07.11)

  • MSE Share Index ends the day minimally lower as the declines in BOV and FIMBank offset HSBC’s 1% increase. The other two active equities, namely Island Hotels and Plaza, closed unchanged. Download a copy of today’s Equity Market Summary.
  • This afternoon the European Central Bank announced that it raised interest rates by 25 basis points to 1.5%. Nonetheless benchmark Eurozone yields have continued to slide lower to 2.92% as European markets are still overshadowed by concerns on the region’s sovereign debt crisis.
  • Following yesterday’s 0.4% decline, BOV’s share price slips a further 1.5% during this morning’s session across eleven trades totalling over 22,200 shares. Other bids unsatisfied at the closing price with lowest offers at the €2.70 level.
  • Meanwhile HSBC climbs 1% higher to regain the €2.95 level across eight trades totalling 6,360 shares. Best bids in the market at €2.92 whilst lowest offers placed at the €2.97 level. The Bank generally publishes its half-year results by the end of July.
  • A small deal of 416 FIMBank shares executed at the US$0.772 level representing a 1% drop from the previous close. Yesterday evening, FIMBank issued an announcement to clarify a media article with respect to ongoing proceedings before the Courts of Malta relating to a €20.4 million garnishee order. FIMBank explained that it has a strong case and has also taken immediate and definitive steps to have the garnishee order and its effects revoked, following which the Courts ordered the suspension of the effects of the Garnishee. Further details available here.
  • Plaza Centres’ share price opens lower at €1.79 before recovering to a close of €1.80 representing no change from the previous close. Three trades totalling over 13,000 shares transacted this morning with further bids outstanding at the last traded price whilst lowest offers now pitched at the €1.90 level.
  • Island Hotels Group Holdings also unchanged at the €0.85 level on just 250 shares. Other offers unsatisfied at the closing price whilst best bids placed at the €0.701 level.