Daily Market Highlights (08.08.12)

  • MSE Share Index edged 0.3% higher to 3,095.573 points as BOV’s 1.9% increase offset GO’s 2% drop. No other equity was active today reflecting the slowdown in trading activity which is customary during this time of the year. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased by 0.1% to 994.943 points as Eurozone yields moved closer to the 1.50% level as investors’ risk appetite increased in view of the European Central Bank’s (ECB) pledge to support bond markets of ailing countries in the region if they tap the bloc’s bailout funds. However, by this afternoon eurozone yields dropped back towards 1.42% as Germany’s Angela Merkel stated that it will not back more financial aid for Greece. Moreover, the strong demand for Germany’s bond auction further highlighted the markets’ request for more details on the planned ECB support.
  • Yesterday, the Malta Stock Exchange confirmed the listing of 30,000,000 shares of Malita Investments plc which were issued in July. Trading in these shares is expected to commence on Monday 13 August.
  • BOV’s share price jumped 1.9% to regain the €2.15 level (the highest in the last 3-months) across four trades totalling 2,771 shares. Few other offers unsatisfied at the closing price with best bids placed at the €2.12 level.
  • Meanwhile, GO’s equity slipped a further 2% lower to close at the €1.00 level for the first time since 13 July. Over 37,600 shares changed hands today as investors await the publication of the half-year results.
  • In the coming weeks, nine companies with a December year end, including IHI, Lombard Bank, RS2 Software and Grand Harbour Marina will be publishing their half-year results in accordance with the Listing Rules. However most have not yet announced the date of publication.