Daily Market Highlights (12.01.11)

  • Local equity market maintains this week’s positive trend on intensified demand for the equities of the two large banks. MSE Share Index climbs a further 1.6% to a new 11-month high of 3,838.021 points on the back of continued increases in the share prices of HSBC and BOV which offset the marginal declines in MIA and FIMBank. Meanwhile GO and MaltaPost close unchanged. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index slips 0.2% lower this morning to 992.124 points reflecting the downturn in the local bond market following the sharp recovery in the benchmark Eurozone yield to just under 3%.
  • HSBC rally gathers further momentum as investors take positions ahead of the Bank’s full-year results generally published by the end of February. HSBC’s equity climbed by a further 4.5% today to a new 11-month high of €3.50 on increased volumes of almost 62,300 shares.
  • Similar trend in BOV as its share price advanced by 1.8% to the €3.199 level (equivalent to €3.839 pre-bonus issue). Higher trading activity of 32,659 shares registered today with further offers unsatisfied at the last trading price whilst best bids now placed at the €3.17 level. The bonus shares were allocated today with trading in the new shares expected to commence tomorrow.
  • Subdued start to the new year as FIMBank shares trade for the first time in 2011. The share price of the trade finance specialist plunged 3.2% to its 2010 low of US$0.92 across five trades totalling over 18,000 shares. FIMBank is scheduled to publish its full-year results on 3 March.
  • MIA’s share price declined by 0.6% back to the €1.65 level on volumes of 14,400 shares. Further bids unsatisfied at the closing price whilst lowest offers placed at the €1.70 level.
  • MaltaPost maintained at its all-time high of €1.00 across three trades totalling 8,000 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.
  • A small deal of 323 Simonds Farsons Cisk shares transacted at the €1.68 level, unchanged from the previous close. Few other bids outstanding at the closing price with lowest offers in the market at the €1.72 level.

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