Daily Market Highlights (15.09.11)

  • MSE Share Index up a further 1.1% to 3,160.233 points as the gains in IHI and MIA offset the declines in BOV and MaltaPost. Meanwhile HSBC, GO and Farsons closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, eurozone yields recovered for the third successive day from an all-time low of 1.706% registered last Monday as investor concerns eased following the approval of an austerity package by the Italian government and a press conference by French President Nicolas Sarkozy and German Chancellor Angela Merkel who confirmed that their respective countries will continue to support Greece. The recovery in yields was reflected in a further 0.3% decline in the Rizzo Farrugia MGS Index to 991.174 points.
  • BOV’s share price was forced back into negative territory as it slid 1.6% lower to €2.558 across eighteen trades totalling almost 16,600 shares. This morning the Malta Financial Services Authority confirmed that it is currently investigating a number of complaints with respect to some investments sold by the Bank following a fresh judicial protest submitted yesterday by circa 40 investors.
  • GO unchanged at its all-time low of €1.20 on increased activity totalling over 23,000 shares. The company remains silent on the warnings raised by its auditors on the possible inability of Forthnet to continue operating. Further details available here.
  • IHI shares active for the first time since the 4th September announcement which provided an update on the situation in Tripoli following the downfall of the Gaddafi regime. IHI had indicated that it was restoring its services at the Tripoli Hotel to normal levels as conditions improve and on the expectation of a sharp increase in the demand for its services. This morning a single trade of just 1,000 shares was executed at a price level of €0.80, representing a 9.6% increase from its previous trade price.
  • Low volumes also evident in MIA, MaltaPost and Farsons.