Daily Market Highlights (12.11.10)

  • Local equity market continues to recover from last Monday’s 1.6% drop. MSE Share Index up by a further 0.6% today to 3,468.306 points as gains in BOV and GO offset the declines in HSBC, MIA and MaltaPost. Despite the positive performances during the last four sessions, the Index still closed this week minimally lower. Download a copy of today’s Equity Market Summary.
  • Last week MIDI plc announced that it has been granted approval by the Listing Authority of the MFSA to issue 44,444,444 shares at a price of €0.45 per share with an over-allotment option of up to a further 22,222,222 shares. Further details available here.
  • Yesterday the Treasury announced that the auction for the two new Malta Government Stocks will not be held as the value of the applications received from the members of the General Public already exceed the €100 million on offer. Full details on the amounts received and the allocation policy have yet to be announced.
  • BOV recoups yesterday’s drop as its share price rises by 1.1% this morning to the €3.66 level across nine trades totalling 8,240 shares. For the second successive week BOV’s equity in positive territory with a further 1.7% rise. Two weeks ago the Bank published its full-year results revealing a 20.9% growth in pre-tax profits to €98.9 million. Although BOV shares are no longer trading with the entitlement to the final gross dividend, investors acquiring BOV shares until 7 January 2011 will still be entitled to the 1 for 5 bonus issue. Details of September 2010 financial results available here.
  • Meanwhile HSBC’s share price remains flat. Equity down 0.4% today to close at €2.88 across five trades totalling 8,250 shares. Following the closure of today’s trading session, HSBC issued its Interim Directors’ Statement. The Directors revealed that the positive trend recorded during the first half of the year in revenue and profits was maintained since 30 June. Further details on the Directors’ statement available here.
  • MIA shares active for the first time this week as a single trade of 5,000 shares executed at the €1.60 level representing a 3% drop from the previous close. MIA’s equity ranks as the worst performer during the last five sessions.
  • FIMBank unchanged at the US$0.94 level on a single trade of 2,600 shares. Further offers unsatisfied at the closing price whilst best bids still pitched at the US$0.90 level. Notwithstanding today’s downturn, the trade finance specialist ended the week 1.1% higher.
  • Minor movements in GO and MaltaPost. GO edges 0.3% higher to €1.885 across four trades amounting to 8,000 shares. Meanwhile the share price of the postal operator sheds 0.1% to €0.91 on a single trade of 363 shares.

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