Daily Market Highlights (07.10.11)

  • Local equity market closes lower during the final trading session of the week as IHI’s 0.6% drop offsets MIA’s 1.2% rise. Overall, during the past five sessions, the MSE Share Index eased minimally lower with GO plc and Lombard Bank Malta plc ranking as the worst performers whilst HSBC and RS2 were the only two equities to close the week higher. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index dropped a further 0.3% to a 1-month low of 988.439 level. Today’s decline reflected this morning’s surge in Eurozone yields to a level of 1.90%. Over the week the local MGS benchmark closed in negative territory as this week’s earlier recovery was slightly offset by the declines in the latter part of the week.
  • High volumes of over 106,000 IHI shares changed hands today with the share price easing 0.6% lower to €0.795 after initially holding on to the €0.80 level. Best bids in the market at €0.78 with other offers placed at the €0.80 level. Recently IHI announced that the Tripoli Hotel is now restoring its services to a normal level as a result of the increased normalisation of conditions in Tripoli as well as a sharp increase in the demand for its services. Moreover, IHI reiterated that it will continue with its investment in Libya and actively participate in its economic future.
  • Fresh demand for MIA shares helps equity to edge 1.2% higher to €1.569 on volumes of 21,710 shares. Lowest offers now placed at the €1.57 level with best bids at the €1.54 level.  Earlier this week the airport operator revealed a record number of passenger movements during the month of September. MIA explained that this increase was mainly due to an 8.2 percentage point increase in the average seat load factor to 83.2%. Further details of traffic results available here.
  • BOV’s share price again unchanged at the €2.50 level representing a minimal decline over the past five sessions. Ten trades totalling 17,350 shares transacted today with best bids in the market at €2.46 and lowest offers at the €2.53 level. BOV generally publishes its full-year results by the end of October.
  • On the other hand, HSBC ended the week 0.8% higher at the €2.65 level after failing to trade today.
  • A single trade of 2,400 GO shares executed at the €1.10 level representing no change from the previous closing price. GO is shortly expected to announce its intentions on its participation or otherwise in the €30 million rights issue by the Greek company Forthnet.
  • The equity of the close-ended collective investment scheme Santumas Shareholdings was active for the first time in almost three months. Almost 4,400 shares changed hands at the €1.90 level representing a 9.5% drop from the previous close and a 50% discount to the scheme’s net asset value of €3.832 per share.