Daily Market Highlights (17.02.11)

  • Local equity market unchanged as volumes shrink in anticipation of the full-year results publication of HSBC. MSE Share Index maintains the 3,839.436-point level as the only three active equities, namely HSBC, BOV and MaltaPost, all held to their respective closing prices. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index advanced by 0.2% today following yesterday’s sharp drop in the benchmark Eurozone yield to the 3.22% level. The Bond Index today closed at 981.028 points – the highest level since 7 February.
  • Subscriptions for the two new Malta Government Stock issues closed yesterday afternoon while tenders for applications in excess of €100,100 (nominal) must be lodged by Friday 18 February at 12 noon. The Treasury is expected to announce the results of the tenders tomorrow afternoon.
  • BOV’s equity closes unchanged at €3.05 in a volatile session. Share price opens higher at €3.06 but drops back to €3.02 on a fresh wave of sale orders before regaining the €3.05 level. Just under 20,900 shares exchanged today with best bids in the market at €3.02 whilst lowest offers placed at the €3.10 level. BOV’s Interim Statement on 4 February revealed fair mark downs during the first quarter of its financial year and the share price has since declined by 2.5%. Further details available here.
  • Meanwhile low volumes again in HSBC shares as investors await the publication of the Bank’s 2010 full-year results scheduled for tomorrow afternoon. 4,500 shares change hands this morning at the €3.499 level, unchanged from the previous close.
  • MaltaPost maintains its all-time high of €1.10 on a single trade of 900 shares. Further shares on offers at the last closing price whilst best bids still placed at €1.074. The equity of the postal operator currently ranks as the best performer so far this year with an increase of 10% following a similar ranking in 2010 with an appreciation of 42.9%.
  • Full-year reporting season kicks off tomorrow with HSBC’s 2010 full-year results. These will be followed by the results of Island Hotels (21 February), FIMBank and Plaza (3 March), Lombard Bank (10 March) and Middlesea Insurance (14 March).
    

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