Daily Market Highlights (11.01.11)

  • Local equity market continues to recover from last week’s declines. MSE Share Index rose a further 0.9% higher to 3775.801 points as HSBC, BOV and MIA trade higher whilst the other active equities close the day unchanged. On the Alternative Companies List, Loqus Holdings slipped 6.3% lower. Local bond market stable as the Rizzo Farrugia MGS Index was marginally unchanged at 994.345 points with the benchmark 10-year Eurozone yield remaining at the 2.87% level. Download a copy of today’s Equity Market Summary.
  • HSBC’s share price rallies for third successive session ahead of the Bank’s full-year results generally published by the end of February. Equity climbed another 2.5% to a fresh 10-month high of €3.35 on volumes of 35,680 shares.
  • BOV also recovering steadily as its share price moved another 0.8% higher this morning to regain the €3.145 level on increased volumes of over 27,000 shares. Bids already placed marginally higher at €3.15 whilst lowest offers now placed at the €3.199 level. The bonus shares will be allocated tomorrow with trading in the new shares expected to commence on Thursday.
  • MIA reverses yesterday’s decline as the airport operator edged 0.6% higher to reclaim the €1.66 level. A single trade of 1,400 shares exchanged today with lowest offers now at the €1.70 level.
  • MaltaPost maintained its all-time high of €1.00 on a small deal of 500 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.
  • Lombard and Middlesea close unchanged on very low volumes. Lombard held on to the €2.78 level across 870 shares whilst a single trade of 1,317 Middlesea shares transacted at the €1.00 level.
  • Following last week’s 20% drop, Loqus Holdings drifted a further 6.3% lower to the €0.15 level on a single trade of just over 1,200 shares. The IT Group has yet to announce the full-year results for the financial year ended 30 June 2010.

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