Daily Market Highlights (18.09.12)

  • MSE Share Index minimally lower today at 3,110.552 points as the declines in the share prices of GO and BOV offset the increases in Farsons and MaltaPost shares. Meanwhile the three other active equities, namely MIA, MIDI and Malita, traded unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 993.700 points as Eurozone yields retreated from yesterday’s 5-month high of 1.73% to 1.62% by this afternoon on the back of increased concerns over Spain. Investors are increasingly becoming wary over the postponement by Spain to formally request a bailout which will kick start the recently announced European Central Bank buying programme. As a result, Spain’s 10-year yields moved closer to the 6% level today with investors seeking the shelter of safe-haven bunds.
  • The share price of GO slipped by 2.9% to a new 4-month low of €0.825 during the final stages of today’s session after holding on to the €0.85 level earlier on. Renewed supply satisfied some long outstanding bids in the market ahead of the Board’s decision on whether to participate or not in Forthnet’s €30 million rights issue. The decision should be announced by the end of the month.
  • BOV‘s share price also eased minimally lower to €2.269 across five trades totalling 2,680 shares. This month marks the end of the Bank’s financial year with the preliminary results generally published by the end of October.
  • On the other hand, Simonds Farsons Cisk plc moved 1% higher to regain the €2.12 level ahead of the Group’s half year results publication on 26 September.
  • Similarly, a single trade of 10,000 MaltaPost shares lifted the postal operator’s equity 1.5% higher to close at the €0.66 level.
  • High volumes transacted in MIDI as almost 112,000 shares changed hands at the €0.28 level. Lowest offers in the market at €0.285 whilst no bids in sight.
  • MIA held on to its 7-week high as a further 15,000 shares changed hands at the €1.759 level. Recently the airport operator announced record passenger numbers during the month of August. Further details available here.
  • A single trade of 2,000 Malita Investments shares was again transacted at the €0.52 level, unchanged from the previous close.