Daily Market Highlights (23.08.10)

  • Following last week’s 1% decline, MSE Share Index edged 0.3% higher during this morning’s session to close at 3,484.302 points. HSBC, BOV, Middlesea and MaltaPost all close higher offsetting the declines in GO and MIA. Meanwhile Simonds Farsons Cisk closed unchanged. Download a copy of today’s Equity Market Summary.
  • Volatile session for BOV shares. Equity slipped from an intra-day high of €3.27 to €3.24 before fresh bids lifted the share price back to the €3.27 level, representing a 0.3% rise over the previous close. Just over 18,000 shares changed hands today with best bids at €3.24 whilst lowest offers now pitched at the €3.28 level.
  • HSBC also edged 0.3% higher to €2.91 on lower volumes of 6,600 shares. Further bids remaining unsatisfied at the closing price with lowest offers now in the market at the €2.92 level. HSBC’s interim dividend is expected to be paid tomorrow.
  • Renewed demand for Middlesea Insurance lifted the equity 6.8% to regain the €1.10 level. Just under 9,700 shares changed hands today with few other offers outstanding at the closing price. The Insurance Group recently published its 2010 half-year results which showed a significantly improved profitability of €3.2 million as the Group is now focusing on its local operations following the closure of the Italian subsidiary, Progress Assicurazioni. Further details on results available here.
  • Meanwhile MIA shed 1.9% to close at the €1.55 level. Six trades totalling 17,650 shares exchanged today with best bids now in the market at €1.50 whilst lowest offers now pitched at the €1.579 level. Amongst its recent announcements, the airport operator revealed the installation of a photovoltaic farm and the outsourcing of the management of its advertising programme.
  • After plunging 8.9% last week, MaltaPost’s equity edged 0.6% higher this morning to regain the €0.825 level on volumes of 5,000 shares. Moreover bids already placed higher at €0.831 whilst lowest offers still in the market at the €0.90 level.
  • Thin trades transacted in GO and Simonds Farsons Cisk. The telecoms Group eased marginally lower to €1.898 across 250 shares. Meanwhile Farsons’ equity closed unchanged at €1.80 on low volumes of 840 shares.
  • A number of companies are expected to issue interim report over the coming days, namely Lombard, GHM, 6pm, GlobalCapital, IHI, GO and Medserv.

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