Daily Market Highlights (27.07.10)

  • Local equity market back into negative territory. MSE Share Index edges marginally lower to 3,521.877 points as the declines in GO, Lombard, Middlesea and Crimsonwing outweigh the increases in BOV and MaltaPost. The other four active equities close unchanged. Download a copy of today’s Equity Market Summary.
  • BOV recovers some of yesterday’s decline as its share price moves 0.1% higher to the €3.265 level on volumes of 12,181 shares. Best bids already placed higher at €3.27 whilst lowest offers now pitched at the €3.30 level.
  • Meanwhile HSBC closes unchanged at the €2.98 level after recuperating from an intra-day low of €2.961 across nine trades totalling 21,756 shares. Further offers in the market at the closing price ahead of the Bank’s interim results publication next Friday.
  • Crimsonwing slumps 13% to €0.40 on a single trade of 4,000 shares following yesterday’s full-year results announcement. Further details and copy of the Annual Report available here. Crimsonwing also issued its Interim Directors’ Statement covering the first quarter of the first financial year. Further details on the Interim Directors’ Statement available here.
  • GO also recovers from an intra-day low of €1.851 to close at the €1.895 level, representing a 0.3% decline from the previous close. 4,500 shares exchanged today with best bids in the market at €1.851 whilst further offers remained unsatisfied at the closing price.
  • IHI holds on to the recent strong gains as another 4,000 shares trade at the €0.89 level. During last week’s AGM Chairman Mr Alfred Pisani announced a 4% bonus issue. Moreover Mr Pisani also confirmed that the secondary listing in London is well underway. Further details available here.
  • MIA also unchanged at the €1.60 level on volumes of 3,100 shares. Best bids still placed at €1.50 whilst further offers remained unsatisfied at the closing price. The airport operator is scheduled to report its interim results next Thursday 29 July.
  • MaltaPost jumps 5.9% to regain its 2010 high of €0.90 on volumes of 22,000 shares. Best bids now in the market at €0.85 whilst other offers remained outstanding at the last traded price.
  • Last week the Treasury announced the issue of 2 new Malta Government Stocks for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €50 million. The 2 new stocks are the 3.75% MGS 2015 (VI) (Fungible Issue) and the 5.25% MGS 2030 (I) (Fungible Issue). Prices for these stocks will be published on Thursday 29 July. The Treasury is also offering €30 million in a new fungible stock linked to the 6-month Euribor. Further details on the new Stocks and copies of the Prospectuses available here.

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