Daily Market Highlights (09.02.11)

  • MSE Share Index drops 0.2% during this morning’s session to close at 3,861.955 points as HSBC, GO and Middlesea retreat offsetting the rise in MIA and Farsons. The Rizzo Farrugia MGS Index also moved 0.4% lower to 979.316 points as the benchmark 10-year eurozone bond yield reached the 3.28% level. Download a copy of today’s Equity Market Summary.
  • The Treasury established the prices of the two new Malta Government Stock issues. The 4.25% MGS 2017 (III) is priced at 101.25% (YTM: 4.03% per annum) and the fungible issue of the 5.25% MGS 2030 (I) at 101.50% (YTM: 5.13% per annum). Subscriptions are open between Monday 14 February and Wednesday 16 February. Application forms available here.
  • BOV’s equity remains well supported at the €3.05 level after the 2.9% drop at the start of the week in reaction to (i) the revelation of fair value mark downs during the first quarter of the year Statement and (ii) media reports related to MFSA’s investigation into the Bank’s property fund. Further details on the Interim Directors’ Statement available here. Volumes remain high with 62,427 shares changing hands across 30 trades.
  • Meanwhile HSBC eases 0.3% lower to close at the €3.50 level in anticipation of the Bank’s 2010 full-year results scheduled for publication on Friday 18 February. 23,558 shares exchanged today with further offers unsatisfied at the closing price whilst best bids still pitched at the €3.48 level.
  • GO also in negative territory as uncertainty about the Group’s investment in Forthnet weighs on investor sentiment. Equity drops 1% to the €1.90 level on volumes of 3,200 shares. Offers already placed minimally below at €1.899 whilst best bids now placed at the €1.87 level.
  • Middlesea Insurance reverses some of its recent gains as new sell orders push the share price 2.8% lower to the €1.04 level across three trades totalling just over 4,000 shares. Few other bids outstanding at the last traded price whilst lowest offers still in the market at the €1.07 level.
  • On the other hand, MIA advances by a further 0.6% to the €1.81 level – just €0.02 below its recent high of €1.83. Almost 5,400 shares change hands today with further offers unsatisfied at the closing price whilst best bids now pitched at the €1.71 level. Low-cost carrier Ryanair has announced a new route to Glasgow as from 14 April.
  • Simonds Farsons Cisk share price up 0.5% to reach an eight-month high of €1.81 on a small deal of 500 shares. Further shares on offer at the last traded price whilst best bids now placed at the €1.80 level.
  • The other two active equities, namely MIDI and MaltaPost, closed unchanged at €0.45 and €1.05 respectively.
  • Tomorrow is a public holiday and trading on the Malta Stock Exchange will resume on Friday.

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