Daily Market Highlights (28.01.11)

  • Local equity market declines today after four positive sessions earlier on this week. MSE Share Index declines by 0.3% to 3,876.391 points due to declines in HSBC, BOV and Middlesea offsetting the strong upturn in the share prices of Lombard and Farsons. Despite today’s downturn, the Share Index still closed the week 1.1% higher on the back of weekly increases in HSBC, MIA, Lombard and Farsons which outweighed the declines in BOV, IHI and GO. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index registered the third consecutive week of declines as it eased a further 0.1.% to 982.54 points. During the first 4 weeks of this year, the MGS Index shed 1% due to a strong upturn in the benchmark Eurozone yields to the 3.19% level.
  • Lombard’s share price closes higher for the second successive day. Following yesterday’s 9.6% rise, Lombard’s equity advanced by a further 3.9% this morning to a new 7-month high of €2.96 on volumes of 10,457 shares. Lombard ended the week as the best performer with a 7.6% rise as the strong upturn in the last two sessions of the week outweighed last Wednesday’s 5.5% drop. The Bank is scheduled to publish its 2010 full-year results on 10 March.
  • Simonds Farsons Cisk also rallies. Share price jumps 7.1% today to the €1.80 level on low volumes of 3,811 shares. Further bids unsatisfied at the closing price whilst lowest offers now pitched at the €1.90 level.
  • HSBC’s share price down for the first time in six sessions. Equity drops 0.9% to €3.50 across seven trades totalling 5,780 shares. Despite today’s decline, HSBC shares still closed the week in positive territory with a 2.8% rise ahead of the Bank’s 2010 full-year results publication by the end of February.
  • BOV closes lower for the fourth time this week on increased volumes of over 60,000 shares. Share price slips a further 1% lower to the €3.10 level with other bids outstanding at the last traded price and lowest offers now pitched at the €3.11 level. BOV, which is shortly expected to publish its Interim Directors’ Statement, ended this week 1.1% lower.
  • Also in the financial sector, Middlesea Insurance shed 1% to close at the €1.01 level on low volumes of 2,376 shares. Best bids in the market minimally higher at €1.011 whilst lowest offers still placed at the €1.059 level. The share price of the insurance company closed the week 0.8% lower.
  • GO again recovers from an intra-day low of €1.90 to close unchanged at the €1.929 level across 5,000 shares. The equity closed the week 0.6% lower following last Tuesday’s decline. Forgendo this week announced further acquisitions of Forthnet shares raising its stake in the Greek telecoms operator to 41.21%.
  • IHI also unchanged at the €0.97 level representing a weekly drop of 1%. Just under 40,000 shares changed hands today with further offers unsatisfied at the closing price.

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