Daily Market Highlights (18.10.12)

  • MSE Share Index eased minimally lower today to 3,179.449 points as HSBC’s 0.5% drop was only partially offset by the increase in the share prices of BOV and Farsons. Meanwhile, all other three active equities closed unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index shed a further 0.1% to a new 4-week low of 994.936 points in line with the extended surge in Eurozone yields which hit a new 4-week high of 1.661%. The rise in yields reflects the prevailing optimism over Spain which managed to sell a further €4.6 billion of sovereign bonds at lower yields than the previous auctions. Markets are now focused on a two-day summit of EU leaders which started this morning although many analysts do not expect any major decisions to be taken.
  • The share price of BOV edged a further 0.4% higher to regain the €2.27 level for the first time in a month on volumes of just over 20,800 shares. BOV’s equity trended higher this week as demand for the Bank’s shares increased ahead of the full-year results publication next Friday 26 October.
  • A single trade of 1,000 Simonds Farsons Cisk shares was executed at the €2.40 level representing a 2.1% rise over the previous close. Farsons’ equity is the best performer since the start of this year with a 33.3% rise mainly reflecting the record profitability of €3.78 million with respect to the six months ended 31 July 2012.
  • Meanwhile, HSBC’s equity eased lower for the second consecutive session with a further 0.5% drop to €2.755 across two trades totalling 4,356 shares.
  • GO held on to its 8-week high of €0.99 on a single trade of 3,000 shares as investors continue to await further information on the rights issue of Forthnet.
  • MIA maintained the €1.75 level on low volumes of 1,200 shares.
  • Lombard Bank shares failed to recover from its multi-year low of €1.80 as a further 1,497 shares traded at this level.