Daily Market Highlights (15.06.11)

  • Local equity market in negative territory for the second consecutive session as the equities of the two large banks retreat. MSE Share Index down another 0.1% to 3,360.137 points as the declines in HSBC and BOV offset the recoveries in FIMBank, RS2 and MaltaPost. Meanwhile IHI and 6pm closed unchanged. On the bond market, as the benchmark Eurozone yields regained the 3% level, the Rizzo Farrugia MGS Index retreated by another 0.1% today to a new 5-week low of 974.304 points. Download a copy of today’s Equity Market Summary.
  • HSBC’s share price down 0.7% to €2.948 across four trades totalling just over 4,100 shares. Best bids in the market at €2.92 whilst lowest offers pitched at the €2.95 level.
  • Similarly, BOV drops 0.7% lower back to the €2.70 level thus wiping out all the gains garnered since the start of June. 9,800 shares changed hands today with further bids unsatisfied at the closing price whilst lowest offers still pitched at the €2.72 level.
  • Meanwhile FIMBank’s equity recovers by 6.5% to the US$0.82 level. Almost 9,800 shares change hands today with best bids in the market at €0.77 whilst lowest offers pitched at the €0.87 level.
  • A single trade of 10,000 RS2 shares transacted at the €0.53 level representing a 6% rise over the previous close. During yesterday’s Annual General Meeting, RS2 Software Chairman Mr Reinhold Schäffter announced that with effect from January 2012 he will be succeeded by the current CEO Mr Mario Schembri who in turn will be replaced by Mr Radi El Haj. The latter has been with the company for the past fifteen years and currently heads the business development team. The Company today paid out the net dividend of €0.032 per share as approved by yesterday’s AGM.
  • MaltaPost also in positive territory as fresh bids help the equity recoup recent declines sending the share price 2.9% higher to regain the €1.05 level. Three trades totalling 4,348 shares executed during this morning’s session with other offers outstanding at the last traded price.
  • High volumes reaching 100,000 shares traded in 6pm Holdings as the equity was active for the first time in almost a month. Share price opened at a new all-time low of GBP0.28 before recovering to a close of GBP0.30 with further offers unsatisfied at the closing price. Earlier this week the IT Group announced that it subscribed to 25% of the issued share capital in a newly incorporated company, emCare360 Limited. Further details on this investment available here.
  • IHI also closed unchanged at the €0.82 level after failing to hold on to an intra-day high of €0.83 across two trades totalling 11,843 shares.
  • Simonds Farsons Cisk this morning published its Interim Statement indicating that the performance since the start of the current financial year on 1 February is in line with the comparable period last year despite the continued competitive pressures. This very brief announcement failed to generate any trades with outstanding bids at the last closing price of €1.75 and lowest offers at the €1.77 level. The Annual General Meeting is scheduled to be held on 23 June.