Daily Market Highlights (25.08.11)

  • Local equity market closes lower for the seventh consecutive session with the MSE Share Index easing by another 0.1% to 3,072.765 points during this morning’s session. Only four equities active today, with HSBC and BOV closing lower and GO partly recovering from recent losses. Meanwhile RS2 Software closed unchanged ahead of their interim results publication next week. Download a copy of today’s Equity Market Summary.
  • High trading activity persists across Malta Government Stocks with a staggering €14.3 million (nominal) changing hands during this morning’s session with the 7.8% MGS 2012 accounting for most of the daily activity. The Rizzo Farrugia MGS Index slipped by 0.4% to its lowest level since early August at 987.116 points following a sharp recovery in Eurozone yields back to the 2.25% level.
  • Demand for bonds was also evident across the corporate bond market. The recently listed 4.8% BOV plc 2018 Notes traded for the first time at 102.25% compared to the recent issue price of 100% (par). The price of the 7.5% MIH 2014 rose to 94.99% from 90% following recent developments in Libya.
  • HSBC’s share price in negative territory for the third successive session as it slid another 0.5% lower to close just above its 23-month low of €2.65. Twelve trades totalling over 21,000 shares transacted today with best bids in the market at €2.64 whilst lowest offers placed at the €2.70 level.
  • BOV down for the seventh time in a row as its share price dropped another 0.2% to close below the €2.50 level also on volumes of just over 21,000 shares. Other bids unsatisfied at the closing price.
  • On the other hand, GO climbed 2.4% to regain the €1.265 level across three trades amounting to just over 4,600 shares. Best bids in the market at €1.23 whilst lowest offers pitched at the €1.28 level ahead of the Group’s 2011 interim results publication on 31 August.
  • RS2 Software unchanged at the €0.55 level on volumes of 16,300 shares. The IT company is scheduled to publish its 2011 half-year report next Monday 29 August.