Daily Market Highlights (07.12.10)

  • Local equity market up for the fourth successive session. MSE Share Index gains a further 0.3% to 3,486.536 points as HSBC, BOV, MIA and Lombard all trade higher. Meanwhile FIMBank’s share price closes 3.1% lower at USD0.92. Download a copy of today’s Equity Market Summary.
  • Central Bank of Malta lowers indicative bid prices of Malta Government Stocks as the benchmark 10-year Eurozone yield reached a seven month high of 2.90%. The bid price of the 5.25% MGS 2030 (I) was lowered by 43 basis points to 101.32%.
  • HSBC’s share price edges 0.7% higher to €2.921 level on a single trade of just 400 shares on lack of offers below the €3.00 level. Further bids outstanding at the closing price whilst lowest offers still pitched at the €3.00 level.
  • BOV also continues to build on yesterday’s 0.5% rise as the equity edged another 0.2% higher this morning to close at the €3.725 level. 25,115 shares change hands today with further offers unsatisfied at the closing price whilst best bids now in the market at the €3.72 level. Investors acquiring BOV shares until 7 January 2011 will be entitled to the 1 for 5 bonus issue. BOV’s Annual General Meeting will take place on Thursday 16 December.
  • GO announced that Forgendo increased its shareholding in Forthnet through an acquisition of a further 1,299,439 shares for a total consideration of €694,196, equivalent to €0.534 per share. Following this additional purchase of shares, Forgendo’s equity stake in Forthnet has increased from 39.88% to 40.71%. Further details available here. GO’s equity inactive today with offers in the market at the last closing price of €1.919 whilst best bids placed marginally lower at the €1.91 level.
  • Also this afternoon, MIA published the November 2010 traffic results revealing a further 12.5% increase in passenger movements – the highest number ever reached in this particular month. The increase in passenger traffic was mainly due to the 11.8% growth in seat capacity over the same month in 2009. MIA now boasts a 13% growth in passenger movements since the start of the year which far exceeds the 8% forecast. Further details available here. Meanwhile during today’s trading session, MIA inched minimally higher to €1.65 across three trades totalling 6,000 shares.
  • Lombard Bank also in positive territory with a 1.2% rise to the €2.60 level across four trades totalling 3,400 shares. Other offers in the market at the last traded price whilst best bids now placed at the €2.58 level.
  • On the other hand, a single trade of 25,000 FIMBank shares effected at US$0.921 – just above its all-time low.

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