Daily Market Highlights (22.02.12)

  • MSE Share Index up for the fourth successive session with another 0.3% increase to 3,009.274 points mainly due to the increases in the share prices of IHI and GO. Meanwhile BOV, FIMBank and Simonds Farsons Cisk traded lower with the remaining two active equities closing unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased 0.1% lower to 986.602 points in line with this morning’s increase in Eurozone yields to just below the 2% level. The focus across the international markets remains on Greece following the approval of a second bailout of €130 billion.
  • GO recovered from a new all-time low of €0.76 to close this morning’s session 3.1% above yesterday’s close at the €0.83 level on high volumes of over 154,400 shares. Few other offers unsatisfied at the last traded price whilst best bids now placed at the €0.79 level.
  • High volumes also registered in IHI as the equity edged 4.4% higher to regain the €0.80 level. Nine trades totalling 137,328 shares changed hands today with best bids in the market at €0.76 whilst lowest offers pitched at the €0.814 level.
  • On the other hand, BOV eased 0.5% lower to close at the €2.16 level on volumes of 5,350 shares. Other bids outstanding in the market at the last traded price whilst lowest offers pitched at the €2.165 level.
  • FIMBank also edged marginally lower to US$0.747 on two trades totalling 8,500 shares. This afternoon, the trade finance specialist issued a press release in reaction to last Tuesday’s decision by Fitch in which the rating agency confirmed FIMBank’s ‘BB’ credit rating but revised its outlook from stable to negative. The Group’s President, Ms Margrith Lutschg-Emmenegger, expressed her satisfaction to the fact that the bank was not downgraded despite the various downgrades of international financial institutions and the deteriorating global economic performance. Moreover, FIMBank’s President explained that the reduction in the Bank’s capital ratios over the past two years was solely due to the Group’s business expansion through the introduction of new factoring joint ventures. These will, in turn, provide diversification to the Group whilst also creating a platform for further expansion once the new ventures mature.
  • Simonds Farsons Cisk shares tumbled 4.4% today to €1.75 on very low volumes of 209 shares. Some other bids remain unsatisfied at the closing price whilst lowest offers still in the market at the €1.98 level.
  • A single trade of 1,000 Lombard Bank shares was executed at the €2.51 level, representing no change from the previous closing price. The Bank is scheduled to publish its full-year results on 15 March.
  • RS2 Software trades again at €0.55 as a further 10,000 shares changed hands.