Daily Market Highlights (13.01.11)

  • Fourth consecutive positive session this week for local equities. MSE Share Index up another 0.2% to 3,845.024 points on the back of increases in the share prices of IHI, FIMBank and Middlesea offsetting the declines in BOV and Island Hotels Group. Meanwhile HSBC, GO and Plaza close the day unchanged. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index eased a further 0.1% lower this morning to 990.996 points reflecting the continued recovery in the benchmark Eurozone yield to 3.04%.
  • Unusually large volumes reaching over 247,000 shares traded in IHI with the equity jumping 3.4% to a new 19-month high of €0.951. Further bids unsatisfied at the last traded price with lowest offers now placed at the €0.97 level. Since the 17 December announcement that the Group is conducting a private placement of new shares at a price above the €1.00 level, the share price shot up 28.5% from is multi-year low of €0.74.
  • HSBC’s share price rally stalls at the €3.50 level. Equity opens the day at an intra-day high of €3.53 before ending the day unchanged at the €3.50 level. During this morning’s session, a total of 30,125 shares were exchanged. The Bank usually publishes its full-year results by the end of February.
  • BOV in negative territory for the first time this week as its share price eases by 1.5% to the €3.151 level across 33 deals amounting to almost 30,000 shares. Further bids unsatisfied a the closing price whilst lowest offers now in the market at the €3.168 level.
  • GO unchanged at the €1.94 level after again recovering from an intra-day low of €1.935 across 11,800 shares. The group’s joint venture investment company with EITL, has been increasing its shareholding in Forthnet through further stock acquisitions via the Greek market. Forgendo now owns 41.15% of the Greek telecoms Group. Details on the latest acquisitions available here.
  • FIMBank reversed most of yesterday’s drop as the equity climbed 2.2% to the US$0.94 level. 50,000 shares exchanged today with best bids at US$0.93 whilst lowest offers placed at the US$0.95 level. The trade finance specialist is scheduled to publish its full-year results on 3 March.
  • Middlesea Insurance also 1.5% higher to €1.015 across three trades totalling 12,930 shares. Bids totalling 10,000 shares in the market at €1.001 whilst lowest offers placed at the €1.05 level.
  • Single trades executed in Plaza Centres and IHG Holdings. 7,000 Plaza shares traded at the €1.69 level with Island Hotels Group slumping  by 9.1% back to the €0.90 level on volumes of 1,000 shares.

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