Daily Market Highlights (24.08.11)

  • No sigh of relief for local equity market as it registers the sixth consecutive day of declines. MSE Share Index edges marginally lower to yet another 23-month low of 3,074.413 points as HSBC, BOV and MaltaPost closed in negative territory. Meanwhile the only other equity, MIDI plc, closed unchanged. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index rose by 0.1% to regain the 991-points level as Eurozone yields eased back to the 2.12% level. The high trading activity on the secondary market across Malta Government Stocks was sustained as a further €3.7 million changed hands during this morning’s session.
  • BOV share price closes in negative territory for the sixth successive session on renewed selling pressure. The Bank’s share price eased another 0.2% to close at the €2.50 level on increased volumes of 55,200 shares. Other bids unsatisfied at the closing price totalling over 13,000 shares.
  • HSBC also ended today’s session 0.2% lower at €2.665 after partially recovering from a new 23-month low of €2.65. Over 18,000 shares traded this morning with further bids unsatisfied at the closing price whilst lowest offers in the market at the €2.70 level. The Bank today effected the payment of the recently declared interim gross dividend of €0.082 per share.
  • MaltaPost also in negative territory today as the equity slipped 2% lower to a new 8-month low of €0.97 on a single trade of 10,877 shares. In its recent communication to the market, the postal operator revealed that during the period from 1 April 2011 to mid-August overall turnover figures were marginally higher compared to those in the corresponding last year whilst profitability on normal trading activity is in line with the comparative period. However, the postal operator revealed that the positive fluctuations from foreign exchange that enhanced revenue streams during the last financial year were not repeated during the period under review. Further details available here.
  • MIDI unchanged at the €0.43 level ahead of the Company’s 2011 interim results publication on 29 August. Two trades totalling 3,200 shares transacted this morning.
  • The last week of the month will be characterised by a flurry of interim results publications as five companies with a December year-end are scheduled to report their figures between 29 and 30 August.