Daily Market Highlights (24.09.10)

  • MSE Share Index gained 0.4% this morning to 3,378.718 points as the increases in HSBC, BOV and FIMBank overshadowed the 1.9% decline in MIA. Meanwhile, Plaza Centres plc closed unchanged. Despite the upturn in the last two sessions of the week, the Index still ended this four-day week 0.3% lower mainly due to the 2.7% and 2.5% weekly declines in GO and MIA respectively. Trading activity remained subdued across equities in contrast to the €8.7 million (nominal) exchanged in Malta Government Stocks. Download a copy of today’s Equity Market Summary.
  • Benchmark 10-year Eurozone yields continued to edge lower to the 2.28% level compared to the 2.44% level last Friday. Downturn in yields was due to renewed concerns on how European countries, especially Greece, Ireland and Portugal, will service their debt. As a result, the Central Bank of Malta Stockbroker raised its bid prices for Government paper throughout the week with the longest dated MGS now at 104.08%, 176 basis points higher than last week’s bid price.
  • HSBC again in positive territory. Share price inches 0.2% higher to €2.855 level across two trades amounting to 5,500 shares. Equity closed the week 0.5% higher.
  • BOV closed 1.4% higher at €3.23 as fresh demand in the final moments of this morning’s session helped the equity recover from an intra-day low of €3.179. Eight trades totalling 4,972 shares transacted today with further offers remaining unsatisfied at the closing price. Today’s upturn offset this week’s earlier declines for BOV to register a 0.6% weekly rise.
  • New buy orders lifted FIMBank shares 2.1% higher to regain the US$0.97 level and close the week unchanged. Volumes of 3,709 shares changed hands today with no bids in the market whilst lowest offers now pitched at the US$1.00 level.
  • MIA sheds a further 1.9% to drop back to the €1.521 level across four trades amounting to almost 7,000 shares. Further bids outstanding at the closing price whilst lowest offers now placed at the €1.557 level.
  • Plaza Centres active for the first time this week. Equity closed unchanged at the €1.65 level on volumes of 7,700 shares.

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