Daily Market Highlights (24.01.2011)

  • The MSE Share Index is back in positive territory as the two major banks HSBC and BOV recover some of last week’s declines. The local bourse adds 0.6% to close at 3,858.115 points. MIA also finished higher at a new multi-year high whilst MaltaPost and IHG closed unchanged after the former touched an all-time high of €1.01 during today’s trading session. IHI is the only one to close in the red. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index closes in negative territory for the tenth consecutive session as Eurozone yields edge up to 3.17%. The MGS Index today fell 0.1% to 982.997 points.
  • HSBC share price reverses some of last week’s 2.7% drop as it rises by 1.9% to €3.47. Just 6,325 shares change hands today with further offers available at the closing price. Bids are however pitched at the €3.45 level.
  • BOV also edges 0.5% higher to close today’s session at €3.15 on higher volumes totalling 26,307 shares. BOV is soon expected to publish its Interim Directors’ Statement to update the investing public on its performance since the last financial year ended 30 September 2010.
  • MIA’s equity climbs 1.7% higher this morning to a fresh 58-month high of €1.78. Last week the airport operator published its 2010 traffic statistics revealing a 12.8% rise in passengers to a record of 3.29 million mainly due to the 10.6% increase in seat capacity. Meanwhile tomorrow MIA will be holding a press conference to provide further details on the 2010 traffic statistics as well as its forecast for 2011.
  • IHI slips 1.2% to €0.97 on increased activity totalling 78,254 shares. Last week the IHI Group announced that the London Hotel started accepted bookings for April. Further details available here.
  • MaltaPost closes unchanged at €1.00 after touching a new all-time high of €1.01. Five trades totalling 10,989 shares effected today with further offers now placed significantly higher at €1.07. Last week the company distributed its 2010 Annual Report in which it revealed that the Board of Directors approved the acquisition of its Head Office in Marsa and another building in Valletta to host Malta’s first postal museum. Moreover, in his review, the CEO stated that further branches were upgraded during the past financial year whilst the Parcel Office expansion in Marsa and a new outlet at the University of Malta were at an advanced stage of completion.
  • IHG also finishes unchanged at €0.998 on low volumes (3,000). Last Friday afternoon the company announced that it will be publishing its full-year results for the fiscal year ended 31 October 2010 on 21 February 2011. The company also informed investors that it expects its full-year results to show an operating profit but an overall net loss before tax. Further information available here.

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