Daily Market Highlights (22.08.12)

  • MSE Share Index up 0.7% during this morning’s session to 3,042.075 points as the increases in BOV, HSBC and Farsons outweighed the 3.6% drop in FIMBank. Meanwhile, GO and MIA ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 996.148 points as eurozone yields retreated back to the 1.50% caused by renewed uncertainty over the European Central Bank’s actions to counteract the prevailing sovereign debt crisis in the region. The price of the 5.10% MGS 2029 regained its record level of 103.50%
  • Locally, the Treasury yesterday announced the issuance of €50 million, with an over-allotment option of a further €25 million, in two new floating rate Malta Government Stocks. However the new issues are only available to those investors wishing to apply for a minimum of €250,000 (nominal). The offer closes at noon on Friday 31 August.
  • The recent volatility seen in the share price of Bank of Valletta plc persisted during this morning’s trading session as the equity jumped by 3.3% to close at a new 5-month high of €2.18 across eight trades totalling 20,967 shares. BOV’s financial year comes to an end on 30 September and the full-year results are generally a month later.
  • HSBC shares also in positive territory today albeit with only a 0.3% increase to the €2.64 level on a single trade of 1,000 shares. Today the Bank paid out its recently declared gross interim dividend of €0.10 per share (net: €0.065).
  • Meanwhile, FIMBank’s share price retreated a further 3.6% lower across 3,000 shares as investors await the Bank’s half-year results publication as well as further developments with respect to the potential takeover by Burgan Bank.
  • Farsons’ shares edged 1% higher to regain the €2.05 level on volumes of 5,942 shares. The equity currently ranks as the best performer this year with a 13.9% jump since the start of 2012 following the record financial results registered during the twelve months ended 31 January 2012. Investors now await the Farsons Group’s half-year results which are generally published in September.
  • The only other two active equities, namely GO plc and Malta International Airport plc, closed this morning’s session unchanged at €1.00 and €1.74 respectively.
  • Various interim results are expected to be published over the next few days with Lombard Bank Malta plc scheduled to publish its half-yearly figures tomorrow followed by International Hotel Investments plc on Friday. MIDI plc will kick off next week with the publication of its six-monthly figures on Monday 27 August followed by FIMBank plc on Tuesday 28 August and Grand Harbour Marina on 29 August. GO plc and Medserv plc will round up the local interim reporting season on Friday 31 August. RS2 Software plc and GlobalCapital plc are also expected to publish their half-year results by the end of August but have not yet announced a date.