Daily Market Highlights (12.04.12)

  • MSE Share Index up 0.2% during this morning’s session to close at 2,936.237 points on the back of a 0.7% increase in the share price of BOV. Meanwhile all other active equities, including HSBC and RS2 Software, ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged marginally higher to 983.864 points as Eurozone yields floated around the 1.7% level. On the local secondary market, further high volumes traded across Malta Government Stocks as €5 million (nominal) changed hands in the 4.3% MGS 2016 (IV) and another €5.2 million (nominal) in 5% MGS 2021 (I).
  • Yesterday afternoon, BOV announced the allocation policy with respect to the recent €40 million issue of Notes which carry a coupon of 4.25% and mature in 2019. The Bank revealed that applications for the first €25,000 will be accepted in full with a balance of only 36.19% for applications above this level. Interest on these Notes will accrue as from today. Meanwhile, allotment letters and refunds of unallocated monies will take place by not later than next Wednesday 18 April.
  • BOV’s equity reversed yesterday’s 0.7% drop with an equivalent increase during this morning’s session to regain the €2.14 level. Seven trades totalling 5,740 shares transacted today with best bids in the market at €2.13 whilst lowest offers pitched at the €2.20 level. BOV generally publishes its half-year results (covering the six months ended 31 March) by the end of April.
  • Meanwhile, HSBC failed to hold on to an intra-day high of €2.51 as it dropped back to the €2.50 level on low trading activity amounting to only 636 shares. Other bids outstanding at the last traded price whilst lowest offers pitched at the €2.537 level. The Bank is scheduled to hold its Annual General Meeting on 18 April.
  • RS2 Software also unchanged at the €0.55 level ahead of tomorrow’s 2011 full-year results publication. A total of 55,800 shares changed hands today with best bids now in the market at €0.40 whilst lowest offers pitched at the €0.56 level.
  • Similarly, a single trade of 30,000 Farsons shares was transacted at the €1.77 level representing no change from the previous closing price. On 25 April, the Farsons Group will issue its financial results for the twelve months ended 31 January 2012.
  • Plaza Centres shares were active for the first time in three weeks as 2,000 shares changed hands at the previous closing price of €1.80. The Plaza equity is still trading with the entitlement to the final gross dividend of €0.116 per share. Further details on results available here.