Daily Market Highlights (20.04.11)

  • Third consecutive session of declines across the local equity market as investors remain wary of the political situation in Libya and the prevailing European sovereign debt crisis. MSE Share Index eased a further 0.2% to yet another 6-month low of 3,335.147 points as BOV, MIA, GO, Farsons, Middlesea and Crimsonwing all traded lower. The remaining two active equities closed unchanged. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index also dropped by 0.3% today back to 975.360 points as the benchmark Eurozone yields marginally recovered. Nonetheless, serious doubts relating to the sustainability of the sovereign debt of Greece, Portugal and Ireland still prevail.
  • This afternoon, Simonds Farsons Cisk published the results for the financial year ended 31 January 2011 revealing a 36.1% rise in profitability. The improve performance was due to both increased revenue and lower operational costs. The Directors recommended a final net dividend of €0.0533 to all shareholders as at close of trading on 19 May. Together with the interim net dividend, the total net dividend of €0.0667 per share represents an 11.2% increase over the previous year’s dividend. Further details available here. Prior to the results announcement, a single trade of 658 shares was executed at the €1.69 level representing a 0.6% drop from the previous close.
  • BOV edged 0.3% lower today to drop back to the €2.89 level on volumes of almost 17,900 shares. Best bids in the market at €2.88 whilst lowest offers now pitched at the €2.90 level.  Yesterday afternoon, the Bank 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.
  • Meanwhile HSBC closed unchanged at the €2.92 level after recovering from an intra-day low of €2.90. Eight trades totalling just over 12,000 shares executed during this morning’s session with further offers unsatisfied at the closing price. 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.
  • GO again recouped from its 25-month low of €1.42 to close just 0.1% lower at the €1.429 level. Over 6,600 shares changed hands today with lowest offers placed at €1.43 whilst best bids are pitched at the €1.41 level. Equity turns ex-dividend as from 5 May.
  • A further 2,200 FIMBank shares changed hands at its 68-month low of US$0.88 with another 3,047 shares on offer at this level. 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.
  • Thin volumes also registered in MIA shares as the equity tumbled another 1.2% back to the €1.70 level on a small deal of 152 shares. Further bids unsatisfied at the last closing price whilst lowest offers now pitched at the €1.72 level.
  • Middlesea inched minimally lower to €0.84 on a miniscule trade of 30 shares. Bids already placed minimally higher at €0.841 whilst lowest offers still outstanding at the €0.89 level.
  • Crimsonwing’s share price retreated by 2.6% back to a fresh 16-month low of €0.369 as it traded for the first time in almost a month. One deal of 10,000 shares executed during this morning’s session with offers already lower at the €0.368 level.