Daily Market Highlights (24.05.12)

  • The MSE Share Index edged 0.5% higher to 2,981.009 points as advances in the share prices of BOV, GO and MIDI offset the decline in Plaza’s share price. Download a copy of the equity market summary here.
  • On the local bond market, trading across the local government paper was high with a total of €6.8 million (nominal) worth of bonds changing hands. The most active MGS was the 4.3% MGS 2016 with a total of €4.2 million (nominal) being traded. The 7.8% MGS 2012 matured today and holders of this MGS ought to have received their capital and final interest payment. The Rizzo Farrugia MGS Index edged marginally higher to 989.426 points as the Central Bank of Malta increased its indicative bid prices. Eurozone 10-year yields dropped to a new all-time low of 1.35% this morning as fears that Greece might exit the Eurozone escalated.
  • Bank of Valletta plc gained 1.5% from yesterday’s 30-month low to close the day at €2.08. A total of 5,991 shares traded across 11 deals. BOV today paid its its gross interim dividend of €0.06 per share.
  • GO maintained its upward momentum as the equity gained a further 2.3% to end the day at €0.88 with lowest offers now at €0.89.
  • MIDI plc ranks as the best performer of the day as the share price advanced by 2.9% higher on volumes of 51,000 shares. MIDI’s equity initially opened at a new all-time low of €0.339 but recovered to close the day at €0.35.
  • Plaza’s equity shed 2.9% to close at a new 11-month low of €1.70 on a small trade of 600 shares. This afternoon Plaza Centres plc will be holding its Annual General Meeting when shareholders will be asked to approve the customary resolutions as well as special resolutions related to a change in the nominal value and a subsequent 3-for-1 share split. On Monday Plaza issued its Interim Statement where it revealed that profitability increased while expenses were maintained at a lower level during the first few months of 2012.
  • The only other active equity was that of HSBC. The share price of HSBC again touched its 2012 low of €2.499 but recovered to close unchanged at €2.50. A total of 4,800 shares traded with further offers in the market at this level.