Daily Market Highlights (09.06.11)

  • Thin trading activity as subdued investor sentiment prevails. MSE Share Index closes minimally lower today as BOV reversed yesterday’s marginal increase. The only other two active equities, HSBC and FIMBank closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the local bond market, the Rizzo Farrugia MGS Index moved slightly higher to 973.911 points as the benchmark Eurozone yields eased marginally back to the 3.05% level.
  • This afternoon, the European Central bank announced that it will maintain its benchmark interest rate at 1.25% possibly due to persisting inflation concerns. Nonetheless, various analysts expect the ECB President Jean-Claude Trichet to strongly hint at a July interest rate hike. The Bank of England also maintained interest rates at a level of 0.5% during today’s Monetary Policy Meeting.
  • BOV’s share price reversed yesterday’s rise to drop back to the €2.74 level across ten trades totalling almost 26,400 shares. Best bids now placed at €2.73 whilst lowest offers still pitched at the €2.75 level.
  • Meanwhile over 5,000 HSBC shares traded unchanged at the €2.96 level. Best bids in the market at €2.95 whilst lowest offers still placed at the €2.97 level.
  • Significant volumes traded in FIMBank for the second time in over a week. Following the 116,352 shares that were exchanged on 31 May, over 171,000 shares changed hands today at the US$0.80 level, unchanged from the previous close. Best bids now placed at US$0.77 whilst lowest offers outstanding at the US$0.86 level. The Directors of FIMBank are scheduled to meet on 10 August to consider and approve the Group’s 2011 half-year results.
  • Yesterday’s announcement by MIA failed to generate any trades as the equity was inactive during this morning’s session. The airport operator revealed that passenger movements rose by 5.8% during the month of a May on the back of an increase in the seat load factor from 67.2% to 73.1%. Since the start of the year, passenger movements climbed by 15.3%. Further details on the traffic statistics available here.