Daily Market Highlights (23.01.12)

  • Following last week’s 0.8% drop, the MSE Share Index retreated by a further 0.6% during this morning’s session to a new 1-month low of 3,061.941 points mainly due to the declines in IHI and MIA. GO and FIMBank also in negative territory whilst BOV and Farsons ended this morning’s session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index reversed last week’s 0.1% decline as it edged higher by the same amount this morning to regain the 988.459 level. Markets buoyant ahead of this afternoon’s meeting of European leaders which is set to discuss further measures to fight the region’s sovereign debt crisis. In fact, the euro gained against various major currencies including the US Dollar with the exchange rate now above the US$1.30 level.
  • IHI’s share price slid 2.4% back to the €0.82 level on low volumes of 8,925 shares. Best bids still in the market at €0.75 whilst lowest offers pitched at the €0.835 level.
  • New sell orders pushed MIA’s equity 2.9% lower back to the €1.70 level. Three trades totalling 6,900 shares transacted today with few other bids unsatisfied at the closing price whilst lowest offers still pitched at the €1.75 level. The airport operator is shortly expected to publish its detailed 2011 traffic results and a forecast for 2012. Meanwhile last Friday, MIA announced that its preliminary financial statements for the year ended 31 December 2011 will be published on 22 March.
  • GO also in negative territory today as the equity only managed to partially recover from an intra-day low of €0.90 to close today’s session marginally below the previous closing price of €0.95. Seven trades amounting 12,100 shares transacted today as investors await further updates from Forthnet after its shareholders rejected all the items on the agenda at its recent Extraordinary General Meeting.
  • High volumes of over 174,000 FIMBank traded today with its share price trading 0.35% lower to €0.768 level. Last week, FIMBank revealed that its Board of Directors is scheduled to meet on 12 March to consider the Group’s financial results for the year ended 31 December 2011.
  • Meanwhile, BOV closed unchanged at €2.22 level after recovering from a 2-month low of €2.19 across thirty-four trades totalling 21,757 shares. Other offers outstanding at the closing price whilst best bids pitched at the €2.20 level.
  • Similarly, Simonds Farsons Cisk shares ended this morning’s session unchanged at the €1.80 level after new bids helped the equity recover from an intra-day low of €1.79. A total of 3,563 shares changed hands today with other offers outstanding at the closing price.