Daily Market Highlights (20.07.10)

  • After three consecutive sessions of gains, the MSE Share Index slips 0.5% to 3,469.066 points as HSBC and MIA trade lower offsetting Middlesea’s 1.7% increase. Meanwhile the other two active equities, namely BOV and GO, close unchanged. Download a copy of today’s Equity Market Summary.
  • HSBC again reverses some of its recent upturn ahead of its interim results publication on Friday 30 July. Shares price edges a further 1.7% lower to close at the €2.97 level on low volumes of 5,690 shares. Few other bids in the market at the closing price whilst lowest offers pitched at the €3.00 level.
  • Volatile session for BOV as investors take positions ahead of the bank’s stress tests results scheduled for publication next Friday 23 July. Equity opens 0.9% higher at €3.301 before dropping to an intra-day low of €3.25. However fresh bids lift the Bank’s share price back to the €3.27 level, unchanged from the previous close. Over 12,600 shares changed hands today with few other offers unsatisfied at the closing price.
  • Further support for Middlesea Insurance shares help the equity touch a new 2010 high. The insurance equity climbed 1.7% this morning to close at the €1.17 level across five trades totalling 4,280 shares. Best bids now placed at the €1.15 level whilst lowest offers pitched at the €1.18 level.
  • MIA closes lower despite last week’s upward revision in the passenger growth forecast for 2010 to 8%. Further details on passenger numbers available here. Share price slips 0.6% to €1.58 on volumes of 2,100 shares. Further offers pitched at the last traded price. MIA is expected to report its interim results on 29 July.
  • GO closes unchanged at the €1.92 level after recovering from an intra-day low of €1.91 on volumes of 3,600 shares. Further offers in the market at the closing price whilst best bids placed at the €1.851 level.
  • Yesterday evening Mediterranean Investments Holding plc (MIH) announced the allocation policy with respect to its recent bond offering. Further details available here.
  • Today the Treasury announced the issue of 2 new Malta Government Stocks for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €50 million. The 2 new stocks are the 3.75% MGS 2015 (VI) (Fungible Issue) and the 5.25% MGS 2030 (I) (Fungible Issue). Prices for these stocks will be published on Thursday 29 July. The Treasury is also offering €30 million in a new fungible stock linked to the 6-month Euribor. Further details on the new Stocks and copies of the Prospectuses available here.

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