Daily Market Highlights (26.06.12)

  • Local equity market back into positive territory with a 0.1% rise to 3,048.439 points following increases in the share prices of BOV and Farsons. On the other hand, HSBC, GO, MIA and Grand Harbour Marina shares traded lower. The only other active equity, RS2 Software, ended the session unchanged. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% lower to 985.046 points as Eurozone yields climbed above the 1.50% level. Markets are now focusing on this week’s summit of EU leaders which will focus on greater fiscal union amongst member as Cyprus formally requested a bailout for an undisclosed amount.
  • Last Friday afternoon the Treasury published the results relating to the issue of three new Malta Government Stocks. The Treasury announced that it received a total of 5,119 applications for a value exceeding €191.5 million (nominal) compared to the total €180 million on offer. The announcement also revealed that a total of €179.69 million (nominal) was allotted in the three fixed-rate stocks as follows: €48.05 million in the 3.75% MGS 2017 (IV); €52.49 million in the 4.3% MGS 2022 (II) FI and €79.14 million in the 5.1% MGS 2029 (I). Further details available here.
  • The share price of Simonds Farsons Cisk jumped a further 5% higher to a new 42-month high of €2.10 during this morning’s session on a single trade of 10,833 shares. Following this latest upturn, Farsons’ equity is 22.1% higher than its 2012 low of €1.72 in March prior to the publication of the Group’s financial results for the twelve months ended 31 January 2012. The results revealed a record revenue figure of €70.9 million which mainly resulted in the 26.1% increase in profit after tax of €4.7 million (2011: €3.7 million). The total net dividend in respect of the year ended 31 January 2012 also amounted to a record of €0.07 per share.
  • BOV’s share price advanced by 1.5% to regain the €2.08 level across four trades totalling 5,841 shares. Other offers remained unsatisfied at the closing price with highest bids at the €2.06 level.
  • On the other hand, HSBC’s equity declined by 0.8% back to €2.481 on very low volumes of 655 shares. However best bids already placed higher at €2.50 with lowest offers in the market at the €2.54 level.
  • GO’s equity again recovered from an intra-day low of €1.15 but still closed 0.4% below its 9-month high of €1.18. A total of 2,500 GO shares changed hands today across three trades.
  • A small deal of 360 MIA shares was transacted at the €1.77 level representing a 0.6% drop from the previous close. Few other bids outstanding at the last closing price with lowest offers at the €1.78 level.
  • Grand Harbour Marina shares, active for the first time in four weeks, slid 1.1% to a new 28-month low of €1.828 on a single trade of 30,000 shares. The marina operator is scheduled to hold its Annual General Meeting tomorrow.
  • RS2 Software shares traded unchanged at the €0.50 level across two trades totalling 8,867 shares. Other offers unsatisfied at the closing price with highest bids still placed at the €0.45 level.