Daily Market Highlights (19.04.11)

  • Subdued investor sentiment continues to weigh on local equity market. MSE Share Index dropped a further 0.3% lower to a new 6-month low of 3,340.782 points as HSBC’s 1.4% decline offset the 3.8% rise in Middlesea. Five other active equities, including BOV and GO, closed unchanged. Download a copy of today’s Equity Market Summary.
  • Meanwhile, on the bond market, the Rizzo Farrugia MGS Index climbed another 0.2% today to regain the 978.368 points level as fresh concerns on the sustainability of European sovereign debt pushed Eurozone yields back to the 3.30% level. The downturn in yields in the last few days wiped out the recovery registered since the end of March on the back of a highly anticipated 25 basis points hike in the European Central Bank’s intervention rate.
  • New sell orders pushed HSBC’s share price 1.4% back to the €2.92 level on volumes of 4,482 shares. Other bids unsatisfied at the closing price whilst lowest offers now pitched at the €2.95 level. During the Bank’s recent Annual General Meeting shareholders approved all the items on the agenda including a final gross dividend of €0.077 per share which will be paid on Thursday 21 April.
  • Meanwhile BOV closed unchanged at the €2.90 level on volumes of over 10,700 shares. The Bank this afternoon announced that its Board of Directors is scheduled to meet on Friday 29 April to consider and approve the Group’s financial statements for the first six months of the current financial year ending 30 September 2011. The directors will also consider declaring an interim dividend.
  • GO touched a new 25-month low of €1.42 before recovering to close unchanged at the €1.43 level. Fourteen trades totalling over 39,300 shares transacted this morning with further offers unsatisfied at the last traded price whilst best bids now in the market at the €1.42 level. Equity turns ex-dividend as from 5 May.
  • Middlesea recovered most of last week’s 5.9% drop as equity climbed another 3.8% today to regain the €0.841 level. A single trade of 942 shares transacted today with further bids outstanding at the last closing price whilst lowest offers pitched at the €0.89 level.
  • Very low volumes also registered across Farsons and GlobalCapital shares ahead of their respective financial results announcements tomorrow. One deal of 168 Farsons shares executed at the €1.70 level, unchanged from the previous close. GlobalCapital also stay unchanged at €1.00 across 500 shares.
  • FIMBank failed to recover from its 68-month low as a further 10,385 shares changed hands at the US$0.88 level. No bids insight whilst other offers remained unsatisfied at the closing price. Shareholders of FIMBank should have received a Prospectus by FIMHoldings plc relating to a share for share exchange together with an acceptance form which shareholders must return to the Company by 22 June. Further details available here. FIMBank also sent out documentation relating to the Annual General Meeting which is scheduled to be held on 5 May.