Daily Market Highlights (27.09.11)

  • MSE Share Index up 0.1% to 3,083.906 points as the marginal increases in the share prices of HSBC and IHI offset the declines in BOV and RS2 Software. Meanwhile GO and MIA closed unchanged. Download a copy of today’s Equity Market Summary.
  • Today the Rizzo Farrugia MGS Index slipped 0.4% lower to 991.942 points after the Central Bank of Malta stockbroker sharply lowered its Malta Government Stock bid prices in line with the significant recovery in eurozone yields from 1.73% to the 1.90% level. The rise in eurozone yields, which continued this afternoon as they touched 1.96%, reflects the renewed optimism amongst investors as markets confidently expect EU leaders to find a suitable solution for the region’s sovereign debt crisis including the issuance of Eurobonds and strengthening the capital of banks.
  • HSBC’s share price edged 0.4% higher to regain the €2.64 level across eight trades totalling 9,660 shares. Further offers unsatisfied at the closing price whilst best bids pitched at the €2.62 level.
  • Meanwhile BOV slid 0.8% lower to €2.53 on high volumes amounting to over 23,000 shares. Other offers outstanding at the last traded price with best bids still in the market at the €2.52 level. This week marks the end of the Bank’s financial year with the full-year results expected to be published by the end of October.
  • A single trade of 5,000 IHI shares was executed at the €0.75 level representing a 1.4% rise over the previous closing price. Best bids placed at €0.74 whilst lowest offers pitched at the €0.76 level.
  • GO closed unchanged at the €1.10 level after recovering from its all-time low of €1.05 across five trades amounting to just over 6,000 shares. Forthnet shares also trading at their historic lows following the revelation of significantly widening losses at the half-year stage and last week’s announcement with respect to a €30 million rights issue.
  • RS2 slid below its multi-year high of €0.60 as a single trade was executed at €0.58, representing a 3.3% drop from the previous close. 5,000 shares changed hands today with further offers outstanding at the closing price whilst best bids now placed at the €0.55 level.
  • No trades executed in anticipation of the interim results publication of Simonds Farsons Cisk plc with just 83 shares on offer at the last traded price of €1.795 and best bids still in the market at the €1.70 level.