Daily Market Highlights (26.08.11)

  • The seven day long negative stint in the local equity market came to an end as the MSE Share Index registered a 0.4% rise during this morning’s session to 3,083.321 points. This reflected the rise in the share prices of BOV and MIA which offset the minimal decline in HSBC. Despite today’s recovery, the local equity benchmark still ended the week 1.3% lower mainly due to the weekly declines registered by the three largest equities by market cap, namely HSBC, BOV and IHI. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index reversed most of yesterday’s decline as it rose 0.3% to 990.278 points following the downturn in Eurozone yields. Nonetheless, volumes remained high across Malta Government Stocks with a further €2.9 million (nominal) changing hands today pushing the week’s total to just over €34 million (nominal). This amount ranks just below the highest weekly trading activity amongst local government paper this year of €34.4 million recorded in the first week of April.
  • HSBC in negative territory for the fourth successive session as it eased minimally lower today to close at its 23-month low of €2.65 on low volumes 3,300 shares. The equity ended the week 1.9% lower with further bids unsatisfied at the closing price and lowest offers at the €2.68 level.
  • Meanwhile BOV partially recovered from this week’s earlier declines as it edged 0.6% higher to €2.51 but still closed the week 2.1% lower. Just over 19,000 shares traded today with other bids unsatisfied at the last trading price whilst lowest offers pitched at the €2.68 level.
  • A single trade in MIA shares lifted the equity 5.3% higher to the €1.58 level. The airport operator is scheduled to pay its recently declared net interim dividend of €0.03 per share on 15 September.
  • RS2 Software share price unchanged at the €0.55 level ahead of the Company’s interim results publication next Monday. Other offers remained unsatisfied at the closing price whilst best bids in the market at the €0.54 level.
  • Apart from RS2 Software, MIDI and 6pm are also expected to report their half-year figures on 29 August. Medserv and Grand Harbour Marina will follow on Tuesday 30 August with GO due to announce their interim results on Wednesday.