Daily Market Highlights (17.09.10)

  • Local equity market closes in negative territory for the fourth successive session. MSE Share Index edged a further 0.1% lower to 3,388.479 points on the back of a 0.3% drop in BOV. Meanwhile the other four active equities traded unchanged. Index ends the week just 0.1% higher as the weekly marginal increases in BOV, MIA, and MaltaPost offset the decline in Lombard. Download a copy of today’s Equity Market Summary.
  • Malta Government Stock prices moved sharply lower this week as the benchmark Eurozone yield recovered to over 2.4%. The 20-year MGS supported at the 103% in the market despite the 82 basis points reduction in the bid price of the Central Bank of Malta Stockbroker to 102.32%.
  • BOV eased 0.3% lower to close at €3.21 on a single transaction of 1,386 shares. Despite this decline, the Bank still ended the week 0.3% higher. Few other bids remained unsatisfied at the closing price whilst lowest offers still pitched at the €3.22 level.
  • Meanwhile HSBC inactive today with the equity closing the week unchanged at the €2.84 level. Best bids now placed at €2.82 whilst lowest offers in the market at the €2.87 level.
  • A miniscule trade of 211 Lombard Bank shares executed at the €2.73 level, unchanged from the previous close. Bids now placed higher at €2.74 whilst lowest offers outstanding at the €2.75 level. Equity was the only negative performer this with a weekly decline of 0.7%.
  • Middlesea Insurance and FIMBank also closed the week unchanged. A single trade of 5,000 Middlesea shares transacted at the €1.00 level. Meanwhile over 63,400 FIMBank shares traded at the US$0.97 level.
  • Simonds Farsons Cisk maintained the €1.801 level as the equity trades for the first time in two weeks. 1,166 shares changed hands this morning with further offers remaining unsatisfied at the closing price whilst best bids now placed at the €1.635 level. The Group today announced that the accounts for the six months ended 31 July 2010 will be considered for approval by the board of Directors on 29 September 2010.
  • Earlier this week, Mediterranean Bank plc announced a new €15 million bond issue. The new five-year bonds will carry a coupon of 6.25%. Further details on this bond issue and copy of the Prospectus available here.

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