Local equity market closes lower for the sixth consecutive session. MSE Share Index down another 0.2% to another 20-month low of 3,248.660 points following declines in the share prices of both HSBC and GO. On the other hand, BOV, MIA and MIDI closed in positive territory. Meanwhile Farsons and Plaza closed unchanged. Download a copy of today’s Equity Market Summary. On the bond market, the Rizzo Farrugia MGS Index moved marginally higher today to 977.086 points as Eurozone yields settled around 2.78% level.
BOV’s share price gradually recovers to an intra-day high of €2.63 before a last minute trade is affected at €2.601. Just over 11,600 shares change hands today. This afternoon BOV published its Interim Statement revealing a slower demand for credit and a continued satisfactory growth in deposits. Moreover the Directors stated that although net interest income grew, commission and trading income dropped due to the prevailing political developments in North Africa and the Eurozone sovereign debt crisis. The latter also resulted in further fair value mark downs while loan impairments continue to reflect the current scenario of certain sectors of the economy. Overall, the profitability for the first nine months of the current financial year is slightly below that of the previous comparable before accounting for the one-off cost of €14.5 million relating to the buy-back offer of the La Valette Multi-Manager Property Fund shares. Further details available here.
HSBC eased 0.7% lower back to the €2.87 level ahead of next Friday’s full-year results publication. Just over 2,500 shares changed hands today.
Further selling pressure in GO forces the equity to slip by a further 1.6% to a fresh all-time low of €1.25. A single trade of 510 shares transacted today with further bids unsatisfied at the closing price. Yesterday, the Greek company Forthnet revealed that it has successfully managed to restructure €90 million of its outstanding debt through the issuance of new long-term debt by a syndicate of banks. Further details available here.
MIDI regains the €0.44 level after dropping to an intra-day low of €0.42. 18,000 shares exchanged today with further offers unsatisfied at the closing price.
Plaza maintained the €1.80 level after recovering from an intra-day low of €1.77 across four trades totalling 6,500 shares. This afternoon, the Company announced that its Board of Directors is scheduled to meet today to consider and approve the financial results for the first half of 2011.
Simonds Farsons Cisk also closed unchanged at the €1.70 level across four trades totalling 5,721 shares. Few other bids outstanding at the closing price whilst lowest offers now in the market at the €1.80 level.
Share price of MIA up 0.7% to €1.56 across three trades amounting to 4,000 shares. Other offers outstanding at the closing price whilst best bids pitched at the €1.50 level. The airport operator is scheduled to publish its 2011 half-year results tomorrow.