Daily Market Highlights (08.01.10)

  • Buoyant investor sentiment helps local equity market register the sixth successive positive session. MSE Share Index jumps a further 2.4% to reach a new 15-month high of 3,653.053 points as all active equities trade higher with HSBC, GO and Lombard, closing at new multi-year highs. Index ends the first week of 2010, 5.6% (representing almost 200 points) higher as 11 equities close in positive territory offsetting the only decline of 5.6% in IHI. This week’s performance ranks as the largest weekly increase since the week ending 2 October 2009. Download a copy of today’s Equity Market Summary.
  • Sustained strong demand for HSBC’s share pushes the equity a further 5.7% higher to another fresh 18-month high of €3.70 following yesterday’s 6.1% rise. Volumes also remain high with over 31,500 shares exchanging hands during this morning’s session. HSBC ranks as the second best performing equity this week with a 14.5% increase ahead of the 2009 full-year results which are normally published by the end of February.
  • BOV closes 0.3% higher at €3.96 after easing from its 18-month high of €3.97. High volumes of almost 20,000 shares changed hands today with further bids at the closing price whilst lowest offers of almost 27,000 shares in the market at the €3.99 level. Equity ends the week 2.3% higher ahead of the 1 for 4 bonus issue for shareholders as at close of trading next Tuesday 12 January 2010.
  • GO in positive territory for the second consecutive session as the share price edges a further 1.4% to a fresh 15-month high of €2.14. Four trades amounting to 10,000 shares transacted this morning with best bids now at €2.10 whilst lowest offers pitched at the €2.15 level.
  • Lombard Bank also on the rise but on low volumes of 7,450 shares. Share price jumps a further 3.9% to close at a new 20-month high of €3.17 – representing a 6% weekly increase. The Bank is scheduled to publish its 2009 full-year results on 11 March 2010.
  • Middlesea also closes 1.6% higher at €0.94 after dropping from its ‘limit-up’ price of €0.989. Increased volumes of over 46,000 shares traded today with further bids at the closing price with lowest offers now placed at the €0.975 level. The insurance equity ranks as the best performing equity listed on the Official List of the Malta Stock Exchange during the first week of 2010 with a 16.9% increase. At these levels, the equity rose 56.7% from its recent rights issue price of €0.60.
  • Over 3,000 MIA shares traded at its 2009 high of €2.50 with further bids at this price whilst lowest offers still pitched at the €2.99 level.
  • MaltaPost edges minimally higher to close at the €0.72 level on volumes of 24,000 shares. The postal operator will be publishing its full-year results on 21 January 2010.
  • Datatrak Holdings shot 115.3% higher to €0.155 as it trades for the first time this year. Only 1,500 shares changed hands with best bids now at €0.14 whilst further offers remain unsatisfied at the closing price. Yesterday the Company announced that its Annual General Meeting will be held on 29 January 2010. Shareholders as at close of trading on 29 December 2009 will receive notice of the AGM together with a copy of the Annual Report and Financial Statements.

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