Daily Market Highlights (22.10.10)

  • Local equity market reverses yesterday’s 0.1% rise as the MSE Share Index retreats back to 3,340.478 points to close the week 0.2% lower. A total of 11 equities trade today with HSBC and Farsons registering declines which offset the increases in BOV, GO, Plaza, MaltaPost and Crimsonwing. Download a copy of today’s Equity Market Summary.
  • Pre-placement exercise of FIMBank plc bond issue closed this morning with the general public offer now opening next Monday. Further details and copy of the prospectus available here.
  • Central Bank of Malta Stockbroker again reduces its bid prices for Malta Government Stocks as the Eurozone 10-year benchmark yield reached the 2.47% level. Following the recovery in yields, government paper closed the week lower.
  • For the third session in a row, BOV edged €0.01 higher to €3.24 across four trades totalling 7,456 shares. Further offers unsatisfied at the closing price whilst best bids still placed at the €3.23 level. Equity which closed the week unchanged ahead of the Bank’s full-year results publication on Friday 29 October.
  • HSBC slips a further 0.9% to close the week at €2.77 over 3 trades totalling 4,000 shares. This translates into a weekly decline of 1%. Lowest offers now placed at €2.79.
  • Meanwhile MaltaPost gains 2.22% to close at a new 2010 high of €0.92 over low volumes totalling 4,137 shares. Bids are pitched at the closing level, however no further offers remain in sight.
  • GO edges 0.5% higher for the third time this week to close at €1.87 across 6,000 shares.
  • Plaza trades for the first time in over a week and adds 0.9% to reach a new 2010 high of €1.70 (5,400 shares). Lowest offers are now placed at €1.72.
  • Crimsonwing partially recovers from Wednesday’s 16.7% drop as the equity rose by 8.6% this morning to regain the €0.38 over 16,000 shares. Despite the recovery, the share price of the IT services company still ranks as this week’s worst performer with a 9.5% decline.
  • Farsons also closes in the red after 5,740 shares are exchanged across 3 trades. Equity falls 1.7% to €1.72 with bids placed lower at €1.68.
  • IHI, MIA and FIMBank close today’s session unchanged. IHI remained unchanged at the €0.80 level on a single trade of 4,500 shares. MIA maintains the €1.60 level on volumes of 7,000 shares but ends the week as the best performing equity with a 2.7% rise.  FIMBank also closes at US$0.95 on 6,000 shares.

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