Daily Market Highlights (27.08.10)

  • MSE Share Index slightly up to 3,477.646 points as HSBC’s 1% drop is offset by the increases in the share prices of BOV, MIA and Plaza. Index closes the week just 0.1% higher amid very weak volumes. Positive week for Malta Government Stocks as benchmark eurozone yields drop to fresh lows. Download a copy of today’s Equity Market Summary.
  • High volumes again traded in the 20-year Malta Government paper amounting to €3,227,600 (nominal). The bond price hit yet another all-time high of 104.6%. This morning a significant increase in trading activity was also recorded in the 4.6% MGS 2020 (II) FIB amounting to over €1.26 million (nominal) with the price also touching a new all-time high of 106.38%.
  • HSBC reverses yesterday’s increase, as the equity drops 1% back to the €2.87 level. Almost 5,000 shares exchanged today with best bids now at €2.865 whilst lowest offers still in the market at the €2.90 level.
  • Meanwhile BOV recovers some of its recent declines to regain the €3.30 level across four trades totalling 2,532 shares. However offers already pitched below minimally below the last closing price with best bids still placed at the €3.25 level.
  • MIA also edges 0.7% higher to close at the €1.56 level on volumes of 7,868 shares. Best bids now in the market at €1.55 whilst lowest offers pitched at the €1.60 level. Despite today’s upturn, the airport operator still closed the week with a 1.3% decline. Interim dividend of €0.03 per share expected to be paid on 15 September.
  • Plaza Centres also in positive territory as its share price climbs 1.2% higher to €1.65 across five trades amounting to 36,000 shares. Further offers remaining unsatisfied at the closing price whilst best bids still placed at the €1.57 level.
  • Yesterday evening GlobalCapital published its 2010 half-year results showing an after-tax loss of €1.4 million compared to the €2.3 million loss reported in the comparable period last year. Further details on results available here. In a separate announcement, GlobalCapital revealed the sale of its 40% shareholding in Metropolis. Further details on this divestment is available here. Announcement failed to generate trades with best bids in the market at €0.70 whilst lowest offers pitched at the €1.28 level compared to the last closing price of €1.50.
  • 6pm Holdings also issued its 2010 half-year results yesterday. The financials show a GBP218,909 loss as the Group was adversely hit by the uncertainty surrounding the UK elections and the European debt crisis. The Directors are hopeful that the new contracts concluded in the private sector should help the Group recover in the second half of the year. No interim dividend was declared. Further details on results available here. Equity still inactive with best bids at GBP0.35 whilst lowest offers pitched at the GBP0.50 level, 5.7% lower than the last closing price.
  • This morning, Simonds Farsons Cisk announced that it will be exercising its early redemption option on the outstanding €1,749,034 million 6.6% Bonds and thus these bonds will be redeemed on 2 November 2010. Further details available here. This followed yesterday’s announcement by BOV explaining that the Bank will be redeeming its outstanding US Dollar bond on 2 October. Further details available here.

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