Daily Market Highlights (29.07.10)

  • MSE Share Index climbs 0.6% to 3,536.243 points as most active equities trade higher. The share prices of the two large banks together with IHI, MIA and Middlesea all close in positive territory whilst Lombard was the sole negative performer. Download a copy of today’s Equity Market Summary.
  • HSBC reverses some of the recent declines at its share price edges 1.3% higher to regain the €3.00 level. Over 20,900 shares change hands today with best bids at €2.955 whilst further offers remain unsatisfied at the closing price. The Bank is expected to report its 2010 interim results next Friday.
  • BOV rises minimally to the €3.27 level across twelve trades amounting to 11,369 shares. Best bids now placed at €3.266 whilst lowest offers pitched at the €3.29 level.
  • IHI gains further ground. Share price edges a further 1.1% this morning to close at a new 2010 high of €0.90 across five trades totalling over 32,000 shares. Yesterday IHI announced that the Extraordinary General Meeting to approve the 4% bonus issue (1 new share for every 25 held) announced during last week’s AGM will be held on 27 August.
  • MIA also in positive territory ahead of interim results expected to be published later on today. Fresh bids lift the share price of the airport operator 1.3% higher to close at the €1.62 level. Almost 43,000 shares change hands today with best bids in the market now at €1.605 whilst lowest offers pitched at the €1.63 level.
  • Meanwhile low volumes traded in Middlesea and Lombard. The Insurance Group edges marginally higher to regain the €1.145 level on volumes of 7,000 shares. Meanwhile Lombard Bank sheds 1.7% to drop back to the €2.83 level on a single trade of 1,000 shares.
  • Still no trades effected in Plaza following yesterday’s 2010 interim results publication. During the first six months of the year, the Company’s turnover increased by 2.3% to €1 million resulting in a marginal increase in pre-tax profit to €416,539. Occupancy levels for the period declined to 92% which the Directors expect to recover during the fourth quarter of the year. Further details on the results announcement available here.
  • Pricing of the 2 new fixed rate Malta Government Stocks expected to be published shortly. The Treasury last week announced 2 new issues  for a total aggregate amount of €100 million subject to an over-allotment option of up to a further €50 million. The 2 new stocks are the 3.75% MGS 2015 (VI) (Fungible Issue) and the 5.25% MGS 2030 (I) (Fungible Issue). Prices for these stocks will be published on Thursday 29 July. The Treasury is also offering €30 million in a new fungible stock linked to the 6-month Euribor. Further details on the new Stocks and copies of the Prospectuses available here.

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