Daily Market Highlights (20.06.12)

  • MSE Share Index moved higher for the third consecutive session with a further 0.2% increase to a new 5-month high of 3,070.19 points. The local equity benchmark was lifted by increase in the share price of HSBC which offset the minimal decline in GO’s equity. Meanwhile the other five active equities, including BOV and MIA, ended today’s session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to 985.094 points as Eurozone yields moved above the 1.5% level this morning on further talk on more help for Italy and Spain to reduce their borrowing costs. Moreover, investors were encouraged by the possibility of further quantitative easing by the Federal Reserve following a meeting later on today.
  • Locally, subscriptions for Malta Government Stocks by the general public close this afternoon. The three new MGS issues on offer are the: (i) 3.75% MGS 2017 (IV) at 102%; (ii) 4.3% MGS 2022 (II) FI at 100.25% and (iii) 5.1% MGS 2029 (I) at 101%. Applications by tender for over €100,000 must be submitted by noon on Friday. Further details and copies of the application forms available here.
  • A small trade of 400 HSBC shares was transacted at the €2.53 level representing a 0.8% rise over the previous close. Best bids in the market at €2.50 whilst lowest offers pitched at the €2.54 level.
  • Meanwhile the share price of GO in negative territory for the first time since 11 May. The quad-play operator only partially recovered from an intra-day low of €1.15 to close 0.2% below its 2012 high of €1.18 across five trades totalling 9,300 shares. Other offers unsatisfied at the closing price whilst best bids placed at the €1.15 level.
  • BOV also recovered from an intra-day low of €2.08 to close unchanged at the €2.09 level on volumes of just over 6,000 shares. Further offers outstanding at the last dealt price whilst best bids in the market at the €2.08 level.
  • MIA held on to its 2012 high of €1.77 on volumes of 7,650 shares. Other bids unsatisfied at the closing price with lowest offers now pitched at the €1.78 level.
  • Low volumes also evident in Plaza with 8,000 shares changing hands at the €0.60 level across three trades. The share price of Plaza has been very volatile since the recent share split although the current price of €0.60 represents a 5.8% premium to the theoretical post-split price of €0.57.
  • A further 1,824 Middlesea shares traded at the equity’s 2012 low of €0.63 representing no change from the previous close. Other bids in the market at the last closing price whilst lowest offers placed at the €0.65 level.
  • Higher volumes traded in RS2 Software as the IT equity maintained the €0.50 level across 32,685 shares. Best bids in the market at €0.45 whilst lowest offers pitched at the €0.55 level.