Daily Market Highlights (23.12.11)

  • MSE Share Index rose marginally higher during this morning’s session following a 1.5% rise in MaltaPost’s share price. The other three active equities, BOV, MIA and Middlesea, all closed unchanged. The local equity benchmark ended the week 0.5% higher mainly due to the gains in the share prices of HSBC and MIA. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.2% higher to 985.626 points as the Central Bank of Malta Stockbroker raised its Malta Government Stocks bid prices this morning. Despite today’s upturn the local MGS benchmark still ended this volatile week 0.2% lower reflecting the recovery in yields from last week’s close of 1.89% to the current 1.93% level. This morning the price of the 5.20% MGS 2031 traded up to a new all-time high of 102.99%
  • MaltaPost shares were active for the sixth consecutive session with the share price advancing by a further 1.5% to close at the €0.995 level representing a weekly rise of 4.2%. Three trades executed this morning amounting to 11,000 shares with lowest offers now at the €1.00 level. The postal operator is scheduled to hold its Annual General Meeting on 17 January for shareholders to consider and approve a number of resolutions including the final net dividend of €0.04 per share and the scrip dividend option with an attribution price of €0.98 per share.
  • On the other hand, BOV ended this week unchanged at the €2.50 level. Best bids still in the market at €2.493 with lowest at the €2.519 level. The bank’s shares are still trading with the entitlement to the approved 1 for 8 bonus issue. The equity will trade ex-bonus as from 10 January.
  • HSBC shares inactive today but ranked as one of the best performing equities this week with a 3.2% rise to the €2.58 level.
  • A small deal of 200 Middlesea Insurance shares transacted at the equity’s 2011 low of €0.80 representing a weekly drop of 11.1%. Other bids unsatisfied at the closing price whilst lowest offers now pitched at the €0.90 level.
  • MIA held on to this week’s earlier gains as a further 1,800 shares changed hands at the €1.69 level across two trades totalling 1,800 shares. The airport operator ranked as the best performing equity this week with a 5.6% jump.
  • Trading on the Malta Stock Exchange will resume on Tuesday 27 December.