Daily Market Highlights (13.10.11)

  • MSE Share Index up 0.5% on gains across 5 equities. Share prices of HSBC, BOV, GO, Lombard and FIMBank in positive territory whilst RS2 Software and MaltaPost traded lower. The only other active equity, Middlesea Insurance, closed unchanged on petty volumes. Download a copy of today’s Equity Market Summary.
  • On the bond market, Eurozone yields jumped to a six week high of 2.22% reflecting growing investor confidence as European leaders edged closer to ratifying the proposed expansion of the European Financial Stability Fund (EFSF) programme whilst banks undergo a more rigorous EU-wide stress test which will require European banks to hold at least 7% in Tier 1 Capital under the adverse scenario. In line with the rise in yields, the Rizzo Farrugia MGS Index slumped 0.4% today to 981.449 points – its lowest level since the end of July 2011. The indicative bid price of the 5.25% MGS 2030 dropped to 100.20%
  • HSBC’s share price moved 0.4% higher today to regain the €2.65 level. Ten trades totalling almost 9,000 shares were transacted during this morning’s session with other offers outstanding at the closing price and best bids at the €2.631 level.
  • BOV shares continue to trade within a range of €2.45 and €2.50. Share price up 0.2% today to €2.47 on low volumes of 5,000 shares. Few other offers unsatisfied at the closing price with highest bids at the €2.465 level. BOV generally publishes its preliminary full-year results by the end of October.
  • Low volumes also evident in Lombard shares as the equity jumps 5.4% to the €2.72 level across 2,000 shares. Offers already placed lower at €2.63.
  • After yesterday’s 6.1% drop back to the €1.052 level, this morning GO’s equity initially touched its all-time low of €1.50 before recovering to close 4.6% higher at the €1.10 level. Over 4,600 shares changed hands today with further offers outstanding at the last traded price.
  • A single trade of almost 18,000 FIMBank shares was executed at the US$0.748 level representing a minimal increase over the previous close.
  • On the other hand, RS2 Software eased minimally below its 2011 high of €0.60 as 3,300 shares traded at the €0.599 level. Other offers unsatisfied at the last traded price with best bids still in the market at the €0.58 level.
  • Similarly, MaltaPost’s share price edged 1% lower to €0.98 on one deal totalling 10,000 shares. Best bids still placed at €0.90 whilst lowest offers pitched at the €0.99 level.