Daily Market Highlights (14.02.11)

  • MSE Share Index lower for the third consecutive session as both index heavy-weight banks BOV and HSBC close in negative territory. The local bourse fell by 0.92% to a one-month low of 3,821.300 points. MIA and GO also finished lower whilst Lombard and Middlesea were this morning’s only positive performers. The other active equities (MIDI, MaltaPost and Plaza) remained unchanged. Download a copy of today’s Equity Market Summary .
  • The Central Bank of Malta Stockbroker revised most MGS Bid prices minimally higher as the European benchmark 10-year Bund yield remained at 3.28%. This led to a 0.03% rise in the Rizzo Farrugia MGS Index to 980.237 points. Subscriptions for the two new Malta Government Stock issues open between today and Wednesday. The two stocks on offer are the 4.25% MGS 2017 (III) at 101.25% (YTM: 4.03% per annum) and the 5.25% MGS 2030 (I) at 101.50% (YTM: 5.13% per annum). Application forms available here.
  • BOV’s share price continues to decline on continued high trading activity. Equity eases 1% to €3.02 on volumes totalling 61,775 shares. The recent decline in share price follows the publication of its Interim Statement revealing fair mark downs during the first quarter of its financial year and media reports related to MFSA’s investigation into the Bank’s property fund. Further details on the Interim Directors’ Statement available here.
  • HSBC’s equity also drops on lack of support for the equity as investors await the publication of the 2010 full-year results scheduled for next Friday. HSBC’s share price drops 2% to €3.401 on weak activity amounting to only 6,458 shares.
  • Some profit-taking also in MIA shares. The share price of the airport operator drops 2.2% to €1.81 on volumes of 12,600 shares. Last Friday the equity reached a fresh 59-month high of €1.85 as the share price rallied after the airport operator recently announced a 14.9% increase in passenger movements during the month of January to a new record of 169,673 passengers.
  • GO’s share price slips 1.5% lower to €1.87 over a single-650 share transaction. GO’s equity has declined over the past two weeks as uncertainty on the Group’s investment in Forthnet continues to weigh on investor sentiment.
  • Low turnover in Middlesea during this morning’s session. However, equity advances by 2.9% to €1.07.
  • Further demand for Lombard’s equity helps the share price gain 0.33% this morning to close at a new 2011 high of €3.01. 4,778 shares exchanged with further shares on offer at the closing price.

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