Daily Market Highlights (16.07.10)

  • MSE Share Index rises a further 0.5% this morning to close at 3,482.328 points as HSBC, GO and MIA all trade higher. Meanwhile the other three active equities, namely BOV, IHI and Middlesea close unchanged. Overall, the Index ended the week 2.6% higher mainly due to the sharp recovery in the share prices of the two large banks following last week’s reassuring comments by BOV. GO, Lombard and IHG also closed in positive territory whilst MaltaPost slipped over 5% lower for the second consecutive session. Download a copy of today’s Equity Market Summary.
  • BOV opened today’s session higher at €3.251 but closes unchanged at the €3.24 level. Almost 13,000 shares changed hands today with best bids now at €3.201 whilst lowest offers pitched at the €3.25 level. BOV ranks as the best performing equity this week with a 5.6% increase. The results of the stress tests being undertaken by the  European Union across a number of Eurozone banks are expected to be published next Friday 23 July.
  • Meanwhile HSBC almost completely recovered from last Wednesday’s drop as the share price edges 1% higher today to regain the €3.029 level. Over 13,200 shares trade today with few other offers outstanding at the last traded price. HSBC closely follows BOV in this week’s rankings with a 4.1% jump ahead of the interim results publication scheduled for 30 July.
  • Positive reaction to yesterday’s traffic results announcement by MIA. The airport operator reported a 19.3% increase in passenger movements during June 2010 lifting the growth in passenger movements during the first six months of the year to 10.3%. On the back of this encouraging performance, MIA increased its 2010 passenger growth forecast to 8%. Further details on passenger numbers available here. Share price up 1.3% thus reversing the declines registered earlier in the week to close unchanged at the €1.58 level.
  • GO also trades 1.6% higher to the €1.93 level on a single trade of 1,000 shares with offers already placed minimally below the last closing price.
  • IHI closes unchanged at the €0.80 level across three trades amounting to 10,500 shares. Best bids now in the market at €0.77 whilst further offers remaining unsatisfied at the closing price. IHI will be holding its Annual General Meeting on 23 July.
  • Middlesea Insurance also closes unchanged at the €1.15 level after recovering from an intraday low of €1.14. Almost 7,000 shares exchanged today with further offers remaining unsatisfied at the closing price. This morning the insurance company announced that it will publish its interim results for the six months ended 30 June on 12 August.

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