Daily Market Highlights (16.04.12)

  • Following last week’s 0.8% decline, the MSE Share Index shed a further 0.1% today to yet another 35-month low of 2,923.618 points as the equities of BOV and Plaza Centres trade lower. Meanwhile the two other active equities, namely HSBC and GO, closed unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index dropped by 0.1% to 984.020 points as the Central Bank of Malta reduced most of its Malta Government Stock bid prices. Internationally, worries over Spain and Italy’s sovereign debt situation increases with Spain’s yields reaching 6.15% – the highest levels since early December 2011. These concerns were also reflected in the currency markets with the euro touching a new 2-month low against the US Dollar at the USD1.2996 level. Despite such concerns, European and UK stockmarkets are in positive territory.
  • BOV share price drops to a new 29-month low of €2.09 before partially recovering in the last moments of this morning’s trading session to close at the €2.10 level which still represents a 0.5% decline from the previous close. Increased volumes in the market today with over 56,300 shares changing hands. BOV is shortly expected to publish its half-year results covering the six months ended 31 March.
  • Meanwhile HSBC’s share price failed to hold on to an intra-day high of €2.51 to end this morning’s session unchanged at the €2.50 level. Six trades totalling just over 6,100 shares transacted today with further bids unsatisfied at the closing price and lowest offers at €2.537. The Bank is scheduled to hold its Annual General Meeting on 18 April.
  • Plaza’s equity down 2.8% to the €1.75 level across four trades totalling 29,950 shares despite still trading with the entitlement to the final gross dividend of €0.116 per share. Equity turns ex-dividend as from 19 April.
  • The only other active equity, GO, also unchanged at the €0.77 level across two trades totalling 1,500 shares. GO is scheduled to hold its Annual General Meeting on 9 May.
  • No trading activity in RS2 Software following last Friday’s announcement. The IT Company reported a 17.2% rise in revenue to a record €8.8 million which led to a 46.8% rise in pre-tax to €2.4 million. Despite the improved profitability, the Directors did not recommended a final dividend in view of the planned investment particularly in the new premises in Mosta relating to the provision of new services, namely transaction processing and managed services. On the other hand, the Directors proposed a 1 for 15 bonus share issue to all shareholders as at close of trading on 8 May. Further details of results available here.