Daily Market Highlights (23.12.10)

  • Local equity market again in positive territory as the share prices of the two large banks recover. MSE Share Index up 0.6% today to 3,642.133 points as increases in the share prices of BOV, HSBC, Lombard and Plaza offset the declines in MIA and Middlesea. Noteworthy to highlight the surge in trading activity particularly in IHI, FIMBank and RS2 Software. Download a copy of today’s Equity Market Summary.
  • Central Bank of Malta Stockbroker again raises its Malta Government Stock bid prices as the benchmark Eurozone yield eased back to the 2.95% level. The Rizzo Farrugia MGS Index increases by 0.15% to 992.68 points.
  • BOV continues to recover from the sharp losses suffered earlier this week. Share price up another 0.6% to €3.70 across twelve trades amounting to almost 12,000 shares. Despite the upturn in the last two sessions of the week, the banking equity still ended the week 2.9% lower. Shareholders on the register as at close of trading on Friday 7 January 2011 will be entitled to the 1 for 5 bonus issue which was approved by shareholders during the recent Annual General Meeting.
  • HSBC also in positive territory today as the equity edged 0.7% higher to regain the €3.10 level thus reversing all of this week’s drop. 30,000 shares change hands today with best bids at €3.08 whilst lowest offers pitched at the €3.125 level.
  • 366,000 FIMBank shares traded today with the equity closing unchanged at the US$0.95 level after recovering from an intra-day low of US$0.93. Best bids now placed at US$0.92 whilst lowest offers pitched at the US$0.975 level.
  • High volumes also in IHI. Six trades amounting to 140,000 shares executed this morning with IHI’s share price also recovering from an intra-day low of €0.85 to close unchanged at the €0.88 level. The market reacted positively to last Friday’s announcement that the Group is currently undertaking a private placement of new shares at a price above the €1.00. IHI ranks as the best performer of the week with an increase of 18.9%.
  • RS2 Software initially drops to a new low of €0.45 but recovers to close the day unchanged at the €0.48 level across a total of 60,000 shares. The Company revealed that the 3-year comprehensive package agreement referred to in the November 2010 Interim Directors Statement was signed with the German payment service provider called KPS Payment GmbH und Co. KG.
  • Plaza Centres’ share price up 2.4% today to capture the €1.69 level – just €0.03 below its 2010 high of €1.72. A single trade of 10,000 shares transacted this morning with other bids outstanding at the last traded price.
  • MIA fails to hold on to its 2010 high as the equity of the airport operator slips by 0.6% to the €1.65 level on volumes of 2,800 shares. Further offers unsatisfied at the closing price whilst best bids now placed at the €1.602 level.
  • A single trade of just 100 Lombard shares lifted the equity 9.3% higher to reach the €2.80 level. Further offers unsatisfied at the closing price but best bids still placed significantly lower at the €2.57 level.
  • One deal also transacted in Middlesea Insurance plc with its share price easing by 1.4% to the €1.001 level. 2,000 shares traded today with lowest offers still pitched at the €1.015 level.
  • IHG Holdings inches minimally higher to regain the €0.90 level on low volumes of 600 shares.

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