Daily Market Highlights (28.10.10)

  • Following three consecutive sessions of increases, the local equity market edges marginally lower today to 3,363.588 points on the back of declines in MIA and Lombard Bank. Meanwhile the three other active equities today, namely HSBC, BOV and Middlesea, close the day unchanged. Download a copy of today’s Equity Market Summary.
  • MIA edges marginally lower for the first time this week to close at the €1.65 level. 6,150 shares change hands today with offers already placed minimally below the closing price.
  • Lombard Bank share price continues to decline. Equity drops a further 3.1% to a new 12-month low of €2.50 on volumes of 2,600 shares. The equity slumped 7.4% during the past two weeks on low volumes reaching 10,460 shares. Lombard’s equity has declined by 16.4% since the start of 2010.
  • After rising 1.9% during the first three sessions of the week, BOV today closes unchanged at the €3.30 level across four trades amounting to just over 4,700 shares. Investors now await the Bank’s full-year results expected to be published tomorrow afternoon.
  • HSBC also unchanged during this morning’s session at the €2.80 level on volumes of 5,060 shares. Few other offers unsatisfied at the last traded price whilst best bids placed at the €2.791 level.
  • Middlesea Insurance maintains the €1.00 level across 1,250 shares. Further bids outstanding at the closing price with lowest offers placed at the €1.02 level.
  • On Tuesday, the Treasury published a Prospectus in terms of the upcoming Malta Government Stock issues. The 2 new stocks are: (i) 3.75% MGS 2015 (VI) (Fungible Issue) and (ii) 5.25% MGS 2030 (I) (Fungible Issue). Prices will be determined on Thursday 4 November 2010 and the subscription period will take place between 8 and 10 November. Further details available here.
  • Yesterday, FIMBank plc announced that it received over 2,100 applications with a total value of almost €33 million equivalent for its 4.25% EUR and USD 3-year bonds. Interest on the bonds starts accruing from 1 November whilst the bonds will be listed on the Official List of the Malta Stock Exchange by not later than 11 November.

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