Daily Market Highlights (29.08.11)

  • Local equity market back into negative territory as the MSE Share Index eased 0.1% lower to close at 3,081.020 points mainly due to the 3.8% drop in MIA. On the other hand HSBC traded marginally higher whilst the other four active equities closed unchanged. Download a copy of today’s Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index eased just 0.04% lower to 989.883 points as the benchmark Eurozone yields floated around the 2.18% level. Volumes on the secondary market also slowed down as €1.3 million (nominal) of Malta Government stocks changed hands.  On the corporate bond market, the gains registered last week in the bonds issued by Mediterranean Investments Holding plc were maintained this morning and the 6.25% Corinthia Finance plc 2019 bonds advanced by 200 basis points to the par level.
  • MIA reversed most of last Friday’s 5.3% jump as its share price retreated by 3.8% to the €1.52 level. Three trades totalling 5,400 shares executed this morning with further bids unsatisfied at the closing price whilst lowest offers still in the market at the €1.58 level. The airport operator is scheduled to pay its recently declared net interim dividend of €0.03 per share on 15 September. Early next week the airport operator is expected to publish its August traffic statistics.
  • BOV unchanged at the €2.51 level after recovering from an intra-day low of €2.499 across increased volumes of over 59,000 shares. Other bids unsatisfied at the closing price whilst lowest offers still pitched at the €2.58 level.
  • Lombard Bank also maintained the €2.68 level on volumes of 25,300 shares. Lowest offers now pitched at €2.70 whilst best bids placed at €2.605.
  • Meanwhile HSBC edged 0.4% higher today to close at the €2.66 level but on much lower volumes of 1,000 shares. Further offers unsatisfied at the closing price whilst best bids in the market at the €2.65 level.
  • GO unchanged at the €1.265 level after easing from an intraday high of €1.27 on low volumes of 3,000 shares. GO is scheduled to publish its 2011 half-year results next Wednesday. Meanwhile Forthnet, the Greek telecommunications Group in which GO has an indirect investment, is also imminently expect to announce its half-year results.
  • RS2 Software traded unchanged for the third successive session at the €0.55 ahead of its 2011 interim results publication later on this afternoon. Just over 4,000 shares changed hands today with best bids placed at €0.54 whilst lowest offers pitched at the €0.58 level.
  • Apart from RS2 Software, MIDI and 6pm are also expected to report their half-year figures today. Medserv and Grand Harbour Marina will follow tomorrow with GO due to announce their interim results on Wednesday.