Daily Market Highlights (21.12.11)

  • After closing at a 27-month low during yesterday’s session, the MSE Share Index recovered by 0.8% today to 3,074.728 points mainly due to the increases in the share prices of HSBC, MIA, and FIMBank. MaltaPost also in positive territory whilst BOV edged marginally lower. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased lower for the second consecutive session with another 0.1% drop to 985.479 points. This was in line with the continued recovery in eurozone yields which moved above the 2% level following an initial positive reaction with respect to the higher than expected €489 billion 3-year loans by the European Central Bank (ECB) to euro-area banks. These loans will serve to help maintain liquidity flows amongst EU banks and support the region’s economies during the prevailing sovereign debt crisis.
  • FIMBank shares registered a positive movement during this morning’s session to recover from yesterday’s 2-month low of US$0.70 and regain the $0.77 level on a single trade of 10,000 shares.
  • HSBC edged 1.2% higher today to close at the €2.58 level on a single trade of 1,924 shares. Last week, the Bank announced that it will be closing down a total of six branches by mid-March 2012 as part of the Bank’s cost savings plans. Moreover, as announced in its recent Interim Directors Statement, employees will be offered voluntary retirement schemes which will be the main item in the expected one-off restructuring charge of €10 million. Further details on the Interim Directors’ Statement available here.
  • Meanwhile, the share price of BOV edged 0.3% lower to €2.493 on low volumes of 3,938 shares. Last Friday the Bank held its Annual General Meeting during which shareholders approved all the items on the agenda including the final gross dividend of €0.08 per share (which was paid on 17 December) and the 1 for 8 bonus share issue. Shareholders as at close of trading on 9 January will be eligible to receive the bonus shares.
  • MaltaPost closed in positive territory for the second successive session as the equity inched minimally higher to close at the €0.98 level across volumes totalling 15,000 shares. The postal operator is scheduled to hold its Annual General Meeting on 17 January for shareholders to consider and approve a number of resolutions including the final net dividend of €0.04 per share and the scrip dividend option with an attribution price of €0.98 per share.
  • Similarly, MIA moved higher this morning on low volumes. The equity jumped 5.6% to regain the €1.69 level on a single deal of 1,200 shares.