Daily Market Highlights (10.01.11)

  • In contrast to last week’s 2.3% drop, the local equity market kicks-off the second week of 2011 on a positive note. MSE Share Index up 1.3% to 3,740.569 points as HSBC, BOV, IHI and MaltaPost trade higher. On the other hand MIA and RS2 Software drop lower whilst GO, Lombard Bank and Middlesea close unchanged. Download a copy of today’s Equity Market Summary.
  • Further to last week’s 0.1% rise, the Rizzo Farrugia MGS Index edged another 0.2% higher today to 994.48 points level as the benchmark 10-year Eurozone yield continued to ease lower to the 2.87% level.
  • HSBC recovers from last week’s 1.7% drop as the banking equity gained 2.2% this morning to close at the €3.27 level. 16,360 shares change hands today. The Bank’s share price has been on an upward trend in recent weeks ahead of the publication of the full-year results which normally takes place by the end of February.
  • BOV also recovers despite turning ex-bonus. Share price rises by 1.2% to €3.121 compared to last Friday’s adjusted closing price of €3.083. Seven deals totalling 7,279 shares effected today with bids already placed higher at €3.136 whilst lowest offers pitched at the €3.21 level. The bonus shares will be allocated next Wednesday.
  • IHI recouped some of last week’s 4.8% drop as its share price climbed 2.2% to the €0.92 level. Almost 33,000 shares change hands today with best bids still in the market at €0.90 whilst lowest offers placed at the €0.935 level.
  • GO maintains the €1.94 level as the equity again recovers from an intra-day low of €1.93. Low trading activity with only 2,900 shares exchanged today. Forgendo (the joint-venture between GO and EITL) acquired a further 69,640 Forthnet shares to increase its stake in the Greek triple-play operator to 41.04%. Further details available here.
  • MaltaPost up 1% today to regain its all-time high of €1.00 on volumes of 9,732 shares. The financial results published last week revealed a 7% increase in after-tax profits to €2.1 million. The Directors also recommended a final net dividend of €0.04 per share but the shares were already ex-dividend at the time of the announcement. Further details available here.
  • MIA eases marginally lower to close at the €1.65 level on a single trade of 1,400 shares. Further bids unsatisfied at the closing price with lowest offers now in the market at the €1.70 level. Investors now eagerly await the 2011 passenger growth forecast.
  • RS2 Software also in negative territory as the equity trades for the first time in just over two weeks. Share price slips 4.2% back to the €0.46 level across one deal of 2,000 shares.

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