Daily Market Highlights (17.01.11)

  • Local equity market in positive territory for the sixth consecutive session. MSE Share Index up a further 0.2% to 3,876.567 points as HSBC’s 0.8% rise outweighed the 0.3% decline in BOV. Meanwhile the other four active equities closed unchanged. Download a copy of today’s Equity Market Summary.
  • Meanwhile negative trend in the bond market extended as the Rizzo Farrugia MGS Index dropped another 0.1% this morning to close at 989.257 points. This fifth successive drop is a reflection of the continued recovery in the Eurozone benchmark yield to 3.03%.
  • High volumes amounting to 142,000 MaltaPost shares traded at the equity’s all-time high of €1.00, unchanged from the previous close. The Company distributed its 2010 Annual Report in which revealed that the Board of Directors approved the acquisition of its Head Office in Marsa and another building in Valletta to host Malta’s first postal museum. Moreover, in his review, the CEO stated that further branches were upgraded during the past financial year whilst the Parcel Office expansion in Marsa and a new outlet at the University of Malta were at an advanced stage of completion.
  • HSBC back into positive territory as its share price edged 0.8% higher to €3.528 across four trades totalling 3,000 shares. Further offers unsatisfied at the closing price whilst best bids now in the market at the €3.50 level. HSBC generally publishes its full-year results by the end of February.
  • On the other hand, BOV slips lower for the third consecutive session. Share price dips another 0.3% back to the €3.14 level on volumes of 20,426 shares. Best bids still placed at €3.13 whilst lowest offers now pitched at the €3.154 level. The Bank is shortly expected to announce its Interim Directors’ Statement updating the investing public of its operational performance since September 2010 – the end of the last financial year.
  • GO maintained the €1.94 level across two trades amounting to 3,100 shares. The Group’s joint-venture, Forgendo, has recently continued to acquire small amounts of shares in Forthnet thereby increasing its stake to 41.15%. Details of the latest open market purchases is available here.
  • MIA also unchanged at its 2010/11 high of €1.67 level on a single trade of 1,700 shares. Further bids outstanding at the closing price whilst lowest offers amounting to 38,800 shares now pitched at the €1.70 level.
  • The other active equity, Middlesea Insurance also held on to the €1.05 level across three trades amounting to 2,605 shares. Further bids outstanding at the last traded price whilst lowest offers pitched at the €1.06 level.

Comments are closed.