Daily Market Highlights (11.10.10)

  • Subdued investor sentiment persists in the local equity market. Following last week’s 1.4% decline, the MSE Share Index edged another 0.1% lower to 3,343.865 points as BOV’s 0.6% drop offset MIA’s 1.3% rise. The other three active equities closed unchanged. Local equity index is now just marginally higher than its 2010 low and 3.4% below its value at the beginning of the year. Download a copy of today’s Equity Market Summary.
  • BOV wiped out most of last week’s 0.9% increase as its share price slipped 0.6% back to the €3.25 level. Low volumes of 3,952 shares exchanged today with further offers remaining unsatisfied at the closing price. Investors eagerly await BOV’s full-year results which are usually published by the end of October.
  • Meanwhile HSBC again closed unchanged at the €2.805 level on volumes of 28,000 shares. Few offers remain outstanding at the last traded price with best bids placed at the €2.80 level.
  • The sole positive performer today was MIA with a 1.3% rise to €1.52 across two trades amounting to only 3,000 shares. Early last week the airport operator published the September traffic statistics showing a further 15.4% increase in passenger movements. Further details on passenger numbers available here.
  • IHI unchanged at the €0.80 level on volumes of 10,000 shares. Lowest offers now placed at the €0.84 level.
  • MaltaPost also unchanged at the €0.90 level on volumes of 3,654 shares. Further bids outstanding at the last traded price whilst lowest offers still pitched at the €0.92 level.
  • The close-ended collective investment scheme, Santumas Shareholdings, active for the first time in over four months. The share price declined by 2.2% to €2.57 on volumes of 5,000 shares. No bids in sight with further offers unsatisfied at the closing price.
  • This morning Mediterranean Bank plc announced that it immediately closed its bond offering due to oversubscription. The allocation policy should be announced by not later than next Monday.
  • Earlier last week, FIMBank plc announced a new 3-year bond issue carrying a coupon of 4.25%. Investors can subscribe to the bonds in both euro and US Dollars. Further details on the bond issue and copy of the prospectus available here.

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