Daily Market Highlights (11.01.10)

  • New Year equity market rally persists. MSE Share Index climbs a further 2.3% to a new 18-month high of 3,737.986 on sustained demand for local equities leading to higher trading activity. Local index in positive territory for the seventh successive session. HSBC continued to lead the rally as the equity rises by €0.20 for the third consecutive session. Positive performances also in BOV, GO, FIMBank and GlobalCapital. Meanwhile Middlesea and MaltaPost close unchanged with Lombard shedding 0.6%. Following today’s rally, Index is already 8% higher than its value at the close of 2009. Download a copy of today’s Equity Market Summary.
  • HSBC’s share price continues to rally with a gain of a further 5.4% to its ‘limit-up’ price of €3.90 – a price level last seen in June 2008. Over 25,000 shares exchanged today with further bids at the closing price and lowest offers now placed at the €3.95 level. HSBC’s share price has advanced by 20.7% in the past 6 sessions as investors take positions ahead of the 2009 full-year results which are normally published by the end of February.
  • Positive run also continues in BOV as the share price advances by 0.8% also to a fresh 18-month high of €3.99. Volumes also remain high with over 45,000 shares changing hands during this morning’s session ahead of the 1 for 4 bonus issue for shareholders as at close of trading tomorrow. Best bids still pitched at the €3.96 level whilst further offers remain unchanged at the last trading price.
  • GO’s share price edges higher for the third successive session. Equity rises by another 1.4% to a new 15-month high of €2.17 but on low volumes of 9,700 shares. Best bids at €2.135 with further offers unsatisfied at the closing price.
  • Following last week’s 16.9% increase, Middlesea closes today sessions unchanged at €0.94 after hitting an intra-day high of €1.00. High trading activity persists with over 78,000 shares changing hands today.
  • FIMBank continues to recover from its multi-year lows as the share price rises by 3.6% to the US$1.16 level on increased volumes of over 13,300 shares. Best bids in the market now at US$1.11 whilst further offers outstanding at the closing price. FIMBank is doe to publish its full-year results on 16 March.
  • Following last Friday’s 3.9% rise, Lombard Bank eases 0.6% to the €3.15 level. A single trade of just 450 shares transacted this morning. The Bank is scheduled to publish its 2009 full-year results on 11 March 2010.
  • Single trades executed in GlobalCapital and MaltaPost. The financial services provider rose 2.2% to €1.475 on 500 shares. Meanwhile MaltaPost closed unchanged at the €0.72 level also on 500 shares ahead of its full-year results publication scheduled for Thursday 21 January 2010.

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