Daily Market Highlights (10.06.11)

  • MSE Share Index moved marginally higher during this morning’s session to 3,374.218 points as HSBC’s 0.3% rise offset GO’s minimally decline. On the other hand, the three other active equities closed unchanged. This week the local index closed lower mainly due to the declines in IHI, Lombard and GO. Meanwhile the only positive performing equities were HSBC (€2.97), MIA (€1.74) and Middlesea Insurance which regained the €1.00 level. Download a copy of today’s Equity Market Summary.
  • On the local bond market, the Rizzo Farrugia MGS Index edged a further 0.2% higher today to regain the 975.783-points level. Eurozone yields retreated back to the 3.0% level following yesterday’s announcement that although the European Central Bank is likely to raise its interest rate next month, further hikes later on in this year might be slower than anticipated due to lower growth and inflation forecasts for 2012.
  • BOV held on to the €2.74 level across six trades totalling over 27,178 shares. Best bids in the market at €2.73 whilst lowest offers still pitched at the €2.75 level. The Bank closed the week unchanged.
  • Meanwhile HSBC’s share price climbed 0.7% higher during this shortened week following this morning’s 0.3% rise to regain the €2.97 level. Seven trades totalling 6,900 shares transacted today with further bids outstanding at the closing price whilst lowest offers placed at the €2.985 level.
  • GO eased 0.7% lower today to drop back to the €1.37 level across two trades totalling 4,000 shares. Other offers remained unsatisfied at the closing price whilst best bids still placed at the €1.37 level. Earlier this week, the Group held its Annual General Meeting during which shareholders approved all the resolutions on the agenda including a significantly reduced net dividend of €0.05 per share. This dividend is now due to be paid tomorrow.
  • A single trade of 11,500 RS2 Software shares were transacted at the €0.499 level, unchanged over the previous close. Share price also remains unchanged this week ahead of next Tuesday’s Annual General Meeting.
  • No change in the share price of MaltaPost as another 34,908 shares changed hands at the €1.02 level. No other bids in sight with lowest offers still in the market at the €1.05 level.
  • Still no trades in MIA’s equity despite revealing a 5.8% rise in passenger movements during the month of May following 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. Last week, MIA announced that its Board of Directors is scheduled to meet on 27 July to consider and approve the Group’s interim results. The Directors will also consider the payment of an interim dividend.