Daily Market Highlights (24.01.12)

  • Following two session of declines, the MSE Share Index edged 0.7% higher to 3,081.982 points during this morning’s session on gains in the share prices of three banking equities and MIA. Meanwhile Farsons and RS2 shares ended the session unchanged.  Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased by 0.1% to a new 2-week low of 987.184 points as Eurozone yields moved sharply higher to just below the 2% level. The international bond markets remain focused on the on-going discussions to strike a deal with private investors holding Greek debt after European finance ministers yesterday rejected the deal offered by private investors as insufficient. Such delays increase the possibility of a disorderly default by Greece.
  • The Treasury of Malta announced that next Friday 27 January it will determine the prices for the 3 new Malta Government Stock issues on offer next week. The Treasury will be issuing €150 million (with an over-allotment option of up to another €150 million) in the following stocks: (i) 4.25% MGS 2017 (III) (Fungibility Issue); (ii) 4.3% MGS 2022 (II) and (iii) 5.2% MGS 2031 (I) (Fungibility Issue). The subscription period for the General Public will take place between Wednesday 1 February and Friday 3 February. On the secondary market, almost €2 million (nom) traded in the 5.20% MGS 2031 with the price dropping by 47 basis points to 102%.
  • New bids helped BOV’s share price recover some of the recent declines as the equity edged 1.8% higher to regain the €2.26 level. Fourteen trades totalling 22,153 shares transacted today with further offers unsatisfied at the closing price whilst best bids pitched at the €2.25 level.
  • HSBC also moved 0.2% higher to close at the €2.555 level after failing to hold on to the €2.60 level. A total of 5,780 shares traded today with few other bids outstanding at the last traded price.
  • Similarly, Lombard Bank ended today’s session in positive territory with a 0.8% rise to the €2.57 level on a single deal of 1,500 shares. Other offers unsatisfied at the closing price with highest bids at €2.502.
  • MIA also in positive territory today as the equity reversed yesterday’s 2.9% drop to regain the €1.75 level on increased volumes amounting to 22,540 shares. The company is shortly expected to provide a detailed analysis of its 2011 traffic results.
  • RS2 shares were active for the first time this year as the equity maintained its 52-week high of €0.60 on activity of 40,300 shares.
  • A single trade of 1,176 Simonds Farsons Cisk shares were transacted at the €1.80 level representing no change from the previous close. Next Tuesday marks the end of the Farsons Group’s financial year with the results generally published by the end of April.