Daily Market Highlights (20.07.11)

  • Local equity trading focused on smaller cap equities with the MSE Share Index easing minimally lower to 3,293.640 points as the 2.8% drop in Crimsonwing offsets the minimal increase in MaltaPost. The Rizzo Farrugia MGS Index also eased marginally lower today to 978.777 points as Eurozone yields this morning regained the 2.72% level. Download a copy of today’s Equity Market Summary.
  • Crimsonwing’s equity dropped 2.8% to a new 19-month low of €0.345 as the shares traded for the first time in almost a month. Next Tuesday 26 July the Company is scheduled to publish its financial statements for the financial year ended 31 March 2011. Just over 22,600 shares traded this morning with offers amounting to almost 65,000 shares outstanding at the €0.355 level.
  • Meanwhile, MaltaPost closed minimally higher at €1.00 after recovering from its 2011 low of €0.98 across four trades totalling 10,000 shares. Further offers amounting to just over 30,000 shares remaining unsatisfied at this level.
  • BOV’s equity holds on to the €2.70 level after also recovering from an intra-day low of €2.66 on volumes of over 7,400 shares. Yesterday afternoon, the Bank announced the issue of €40 million Notes carrying a coupon of 4.8% and maturing in 2018. Copy of Prospectus to be available shortly. Applications open on Thursday 28 July.
  • HSBC also unchanged at the €2.87 level on one deal of 1,500 shares. Other bids outstanding at the last traded price with lowest offers in the market at the €2.90 level. The Bank is scheduled to publish its 2011 half-year results on 29 July.
  • Also in the banking sector, Lombard Bank maintained the €2.670 level as a further 5,200 shares traded at this level. Lombard recently announced that its Board of Directors is scheduled to meet on 23 August to consider and approve the Group’s 2011 half-year results.
  • MIA yesterday announced that its current CEO Mr Julian Jaeger will be replaced in due course as Mr Jaegar has been appointed to the new two-Member Management Board of Vienna International Airport. The airport operator will kick-off the interim reporting season with the publication of its 2011 half-year results on Wednesday 26 July. Tomorrow MIA is also expected to publish the June traffic statistics together with a revised forecast for 2011.