Daily Market Highlights (28.12.10)

  • Further increases in the share prices of the three largest caps help the local equity market register gains for the fourth consecutive day. MSE Share Index advances by a further 0.7% this morning to 3,725.325 points as HSBC, BOV and IHI traded higher to offset the 1.2% decline in Farsons. Meanwhile Island Hotels Group and Lombard remain unchanged. Download a copy of today’s Equity Market Summary.
  • Central Bank of Malta Stockbroker raised its Malta Government Stock bid prices as the benchmark Eurozone yield dropped back below the 3% level. The Rizzo Farrugia MGS Index increased by 0.13% to 992.49 points.
  • Sustained demand for BOV shares lifts the bank’s equity another 0.7% today to a new 2010 closing high of €3.829 on volumes of just over 11,000 shares. Shareholders on the register as at close of trading on Friday 7 January 2011 will be entitled to the 1 for 5 bonus issue which was approved by shareholders during the recent Annual General Meeting.
  • HSBC also continues to recover as its share price edged a further 0.8% higher this morning to close at an 8-month high of €3.175 across five trades totalling 13,000 shares. Bids already placed marginally higher at €3.176 with lowest offers in the market at the €3.199 level.
  • IHI’s price hike sustained with another 2.2% rise this morning to close at a fresh 2010 high of €0.92. Four deals totalling 11,900 shares transacted today with further bids unsatisfied at the closing price whilst lowest offers now placed at the €0.99 level. The IHI Group recently announced that it is undertaking a private placement of new shares at a price higher than the nominal value of €1.00. Further details available here.
  • On the other hand the equity of Simonds Farsons Cisk plc sheds 1.2% today to drop back to the €1.70 level across two trades amounting to 10,000 shares. Best bids placed at €1.69 whilst lowest offers pitched at the €1.72 level.
  • IHG Holdings maintains the €0.90 level on increased volumes of 6,700 shares. Lowest offers now pitched at €0.95 but best bids still pitched substantially lower at the €0.551 level.
  • Lombard Bank also unchanged at the €2.80 level on low volumes of 3,000 shares.
  • This morning, PAVI Shopping Complex plc published its half-year results for the period ended 31 October. The financial statements show a 4.5% increase in turnover to €14.2 million which helped the company achieve a significant improvement in profitability. Pre-tax profits up to €427,197 from the level of €205,706 recorded in the same period last year. Further details available here.

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