Daily Market Highlights (27.12.11)

  • MSE Share Index closes 0.6% lower at 3,056.73 points as HSBC’s 3.1% decline offsets the smaller gains of IHI and MaltaPost. Six equities were active during the day. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 986.808 points as the Central Bank of Malta Stockbroker raised its Malta Government Stocks bid prices this morning in line with movements in the eurozone yields. The price of the 5.20% MGS 2031 closed at a new all-time high of 103% as a total of €270,400 (nominal) traded.
  • Following an inactive session last Friday, HSBC’s equity dropped 3.1% to close again at its 2011 low of €2.50 level. However, most trades were carried out at the €2.55 level and lack of further support at this level forced the price to drop to €2.50 in the final minutes of the session.
  • MaltaPost’s equity was active for the seventh consecutive day. A total of 22,137 shares changed hands with the share price edging higher to regain the €1.00 level. Further bids remain unsatisfied at this level with lowest offers now at €1.085. The postal operator last week published its Annual Report in anticipation of the Annual General Meeting being held on 17 January. During the AGM shareholders will be asked to to consider and approve a number of resolutions including the final net dividend of €0.04 per share and the scrip dividend option with an attribution price of €0.98 per share.
  • The other positive performer of the day was International Hotel Investments plc. The equity was active for the first time since 15 December and a single trade of 1,200 shares was executed today at €0.844, representing a gain of 1.7%.
  • BOV closed the day unchanged at the €2.50 level for the third consecutive trading session. The equity traded up to an intra-day high of €2.519 level but dropped back to the €2.50 level on lack of support and fresh offers entering the market. Volumes were low with under 13,000 shares changing hands today. The bank’s shares are still trading with the entitlement to the approved 1 for 8 bonus issue. The equity will trade ex-bonus as from 10 January.
  • RS2 Software’s share price active for the first time since 7 December. During today’s session, 5,500 shares changed hands at €0.59, unchanged from the previous close.