Daily Market Highlights (17.10.11)

  • Following last week’s 0.5% increase, the MSE Share Index advanced by 0.1% today to a new 1-month high of 3,122.414 points. BOV and MIA traded higher today whilst IHI eased marginally lower. The only other active equity, HSBC, closed unchanged. Download a copy of today’s Equity Market Summary.
  • Eurozone yields jumped to a new 3-month high of 2.256% this morning following the G20 meeting during which the European representatives reassured other delegates that Europe was working on a plan to solve the region’s sovereign debt crisis. As a result the Rizzo Farrugia MGS Index slipped 0.3% to a 3-month low of 980.507 points. However, earlier on this afternoon, Eurozone yields slipped back to the 2.13% level on renewed scepticism over the ability of European leaders to solve the debt crisis following comments made by German Chancellor Angela Merkel. Germany is also calling for private investors to take on a bigger write-off on Greek debt than the original 21% agreed to in July.
  • Sustained demand for MIA shares helped the equity continue to build on last week’s 5.8% rise. Share price up another 2.4% during this morning’s session to a new 3-month high of €1.70 across eight trades totalling 24,000 shares. MIA now ranks amongst the four positive performing equities in 2011 with a year to date increase of 2.4%.
  • BOV ended today’s session 0.2% higher at the €2.455 level across six trades totalling 19,000 shares. The market awaits the publication of the preliminary full-year results by the end of October.
  • Meanwhile HSBC held on to the €2.64 level on volumes of 3,250 shares. Best bids placed at €2.635 whilst lowest offers now in the market at the €2.659 level.
  • High volumes of almost 68,000 shares traded in IHI as its share price eased 0.6% lower to the €0.815 level. Lowest offers pitched at the €0.82 level whilst best bids still outstanding at the €0.791 level.