Daily Market Highlights (18.11.11)

  • MSE Share Index in positive territory for the fourth consecutive session. Index up 0.6% to 3,157.427 points as the share prices of IHI, GO, Medserv and Crimsonwing all gain. On the other hand, Lombard Bank eased 0.4% lower with the other three active equities closing unchanged. Download a copy of today’s Equity Market Summary.
  • This afternoon, the Treasury is expected to publish the statistics with respect to the applications received by the general public and tenders placed by institutions for the this week’s Malta Government Stock issues.
  • IHI ranked among the best performers of the week after rising by a further 4% during this morning’s session to reach a new 8-month high of €0.84 across four trades totalling 20,000 shares. IHI’s share price jumped 7.7% during the last five sessions.
  • BOV’s share price failed to hold on to an intra-day high of €2.519 as it closed unchanged at the €2.50 level. Ten trades totalling 19,600 shares executed today with further bids unsatisfied at the closing price whilst lowest offers pitched at the €2.519 level. Despite turning ex-dividend on Monday, the Bank’s equity closed the week 2.5% higher.
  • HSBC’s equity was inactive today but also ended the week in positive territory with a rise of 1.5% on high volumes of 210,812 shares. In the Interim Statement published on Tuesday, the Directors revealed that trading conditions remained challenging and expect a more difficult 2012. In response the Directors approved a cost-savings plan which will result in a one-off charge of approximately €10 million for the 2011 financial year. Further details available here.
  • New bids helped GO’s share price rise by 2.9% to regain the €1.06 level across two trades totalling 30,380 shares. Coupled with this week’s earlier gains, GO’s equity registered a weekly increase of 3.9%.
  • Medserv’s equity advanced by 2.9% to a new 4-month high of €3.95 following the publication of Interim Directors’ Statement and the declaration of an interim dividend. In the Statement, the Directors explained that it continued to experience renewed demand for its services at the Malta base and the Misurata base has also re-opened for operations. Moreover the Directors indicated progress at the recently set up joint-ventures in Sicily and Cyprus. Further details available here.
  • Crimsonwing shares, active for the first time in three weeks, rose 16.7% to the €0.35 level representing a new 4-month high. 30,000 shares changed hands today with offers already placed marginally below the last closing price at €0.349 and best bids at the €0.30 level.
  • Almost 65,000 Lombard shares traded today with the share price easing by 0.4% to the €2.73 level. Further offers unsatisfied at the last traded price with best bids pitched at the €2.70 level.
  • A further 13,000 FIMBank shares changed hands at the US$0.77 level, unchanged from the previous closing price. Last Tuesday FIMBank reported that the overall performance during the second half of the year was in line with the first 6 months of the financial year when the Group reported a profit after tax of $4.08 million. Moreover the FIMBank Group continued to register low impairments and experienced a growing balance-sheet and healthy capital and liquidity ratios. FIMBank also made reference to the network of factoring joint-venture companies and highlighted the newly established company in India which reportedly registered impressive growth in recent months. Further details on the announcement available here.
  • The only other active equity, MIA closed unchanged at the €1.69 level ahead of the imminent publication of the Interim Statement. 7,500 shares exchanged today as the equity ended the week 0.6% lower.