Daily Market Highlights (14.06.12)

  • MSE Share Index in positive territory for the third time this week with another 0.4% increase to a new 5-month high of 3,065.564 points. Today’s upturn follows increases in the share prices of BOV, GO, MIA and Farsons. Meanwhile HSBC and FIMBank ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 984.382 points as this morning Eurozone yields moved around the 1.50% level. In the international markets, the main development was a further hike in Spanish borrowing costs to a euro-era high of 7%.
  • Meanwhile, later on this afternoon, the Treasury of Malta is expected to publish the prices of the three new Malta Government Stocks, namely the: (i) 3.75% MGS 2017 (IV); (ii) 4.3% MGS 2022 (II) FI; (iii) 5.1% MGS 2029 (I). Subscriptions for these stocks open next Monday 18 June.
  • GO’s equity in positive territory for the fifth consecutive session with a further 2.8% increase to a new 8-month high of €1.10. Ten trades totalling more than 18,000 shares were transacted today with further bids unsatisfied at the closing price and lowest offers at the €1.15 level. The equity of the quad-play telecom operator is heading for a 13.4% weekly increase and currently ranks amongst the best performing equities this year with a year to date increase of 12.2%. Moreover, following the recovery in recent weeks, GO now also ranks as the fifth largest company amongst local equities with a market capitalisation of €111.4 million.
  • BOV also ended the day higher with a 1.4% increase to €2.09 across fourteen trades totalling 23,961 shares. Last week, the Bank announced the MFSA conclusions with respect to the sales practices adopted by the Bank in connection with the La Valette Multi Manager Property Fund (LVMMPF). Further information can be obtained here.
  • HSBC shares were active for the first time in three sessions as the equity held on to the €2.52 level after recovering from an intra-day low of €2.48 on volumes of over 17,000 shares. Best bids now placed at €2.48 and lowest offers in the market at the €2.53 level.
  • Also in the financial sector, FIMBank maintained the US$0.85 level on a single trade of 100,000 shares. A further 150,000 shares are on offer at the US$0.88 level.
  • Farsons’ share price edged 0.3% higher to a new 42-month high of €2.00 across seven trades totalling 24,705 shares. Yesterday, the Farsons Group issued its Interim Directors Statement reiterating that it continues to operate in a highly competitive environment and its performance is dependent on consumer confidence and tourism performance. Nonetheless, since the start of the current financial year on 1 February 2012, the performance is in line with the Group’s target and higher than the results achieved in the comparative period last year.
  • MIA’s equity also edged 0.1% higher to close at its 2012 high of €1.75 across fourteen trades totalling 44,350 shares. Lowest offers now placed at €1.76. Last week MIA reported that it registered a record number of passengers during the month of May