Daily Market Highlights (21.07.10)

  • MSE Share Index closes 0.1% lower this morning at 3,464.706 points as the declines in BOV and FIMBank outweigh the increase in the share prices of HSBC, MIA and MaltaPost. Meanwhile GO and Lombard close unchanged. Trading volumes remain weak as investors await the interim reporting season to kick-off next week. Download a copy of today’s Equity Market Summary.
  • BOV’s equity closes 0.9% lower at €3.24 after recovering from an intra-day low of €3.13. Almost 4,700 shares change hands today with best bids now placed at €3.14 and further offers remaining unsatisfied at the closing price.
  • Meanwhile HSBC’s share price recovers by 0.7% to close at the €2.99 level also on low volumes of 1,600 shares. Other offers still outstanding at the last traded price with best bids now at €2.955. The Bank is scheduled to publish its 2010 interim results on Friday 30 July.
  • FIMBank shares active for the first time in over a week. Share price slumps 4.7% back to USD1.001 – just above its 2010 low. A single trade of 3,000 shares executed today with lowest offers pitched at the USD1.05 level.
  • MIA recovers yesterday’s 0.6% decline as the share price advances by 1.3% to regain the €1.60 level. Five trades totalling 10,000 shares change hands today with other offers remained unsatisfied at the closing price. MIA is expected to report its interim results on 29 July.
  • MaltaPost also reverses some of its recent decline as the equity rose 1.6% to €0.819 on a thin trade of 400 shares. The postal operator recently published its Interim Directors’ Statement in which the Directors stated that since the financial half-year end on 31 March, the Company’s performance and trends are in line with those of the comparable period last year. The Directors also commented that they do not foresee any circumstances which will impede MaltaPost from achieving profits for the year ending 30 September 2010 in line with those reported for the previous financial year.
  • On Monday Mediterranean Investments Holding plc (MIH) announced the allocation policy with respect to its recent bond offering. Further details available here.
  • Yesterday 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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