Daily Market Highlights (21.02.11)

  • Local equity market in negative territory for the second successive session as MSE Share Index falls below the 3,800-points level for the first time since 11 January. The Share Index dropped another 0.9% to 3,768.418 points mainly due to the 4.4% decline in the share price of HSBC. IHG, MaltaPost and Crimsonwing also drop with gains registered in BOV, MIA and Middlesea. On the bond market, the Rizzo Farrugia MGS Index closed minimally higher at 982.737 points. Download a copy of today’s Equity Market Summary.
  • Last Friday the Treasury announced that it received a total of 6,052 applications for the two new Malta Government Stocks for a value exceeding €326 million. A total of €199.8 million (nominal) was allotted in the two stocks as follows: €115.1 million in the 4.25 % MGS 2017 (III) and €84.7 million in the 5.25% MGS 2030 (I) FI. Further details available here.
  • HSBC’s share price down 4.4% to the €3.30 level in reaction to the full-year results publication last Friday. Although the HSBC Malta Group registered a 16.7% rise in pre-tax profits to over €83 million, the dividend to shareholders was unchanged over last year as the payout ratio was reduced from 65% to 55%. The final gross dividend of €0.077 per share is payable to those shareholders as at 3 March.  Further details available here.
  • Meanwhile BOV recovers last week’s 1.7% drop as the equity regains the €3.05 level across twelve trades totalling 13,637 shares. Further offers unsatisfied at the closing price with the equity supported at the €3.00 level.
  • Middlesea Insurance up 0.5% to €1.055 on volumes of 4,000 shares. The insurance company is set to publish its 2010 full-year results on 14 March.
  • MaltaPost reverses most of last week’s 2.8% rise following the Interim Statement published last Friday afternoon. The Directors of MaltaPost stated that the financial results for the period commencing 1 October 2010 to date are slightly below those registered during the corresponding period in the previous year. MaltaPost’s share price dropped 2.4% to the €1.074 level on a single trade of 2,000 shares with further bids unsatisfied at the closing price.
  • Single trades also transacted in MIA and Crimsonwing shares. MIA up 1.1% to regain the €1.77 level on low volumes of 440 shares while the share price of the IT company slipped 1.1% to €0.375 on volumes of 9,000 shares.
  • Island Hotels Group share price edges minimally lower to €0.997 in anticipation of the 31 October full-year results expected to be published later on today.
  • Bond prices of Mediterranean Investment Holdings plc and International Hotel Investments plc decline following developments in Libya.

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