Daily Market Highlights (29.09.10)

  • Positive day for equities. Local equity market recovers from recent declines although volumes remain weak. MSE Share Index up 0.5% to 3,390.436 points as increases in the share prices of IHI, MaltaPost and Plaza offset the declines in HSBC and GO. The other active equity, BOV, closed unchanged. Download a copy of today’s Equity Market Summary.
  • Continued high volumes in Malta Government Stocks. Trading activity amounting to over €4 million (nominal) exchanged in the 5.25% MGS 2030 (I). This stock continued to trade close to its all-time high of 104.66% as eurozone benchmark yields remained low.
  • IHI recovers some of its recent losses as its share price climbs 4.9% to €0.85 on a single trade of 10,000 shares. Today marks the closing date of the bonus issue buy back offer by the Company. In the coming days IHI is expected to disclose the amount of shares bought  back and subsequently cancelled.
  • MaltaPost’s shares advance by 5.9% to its 2010 high of €0.90 on volumes of over 26,000 shares. Further bids outstanding at the closing price whilst lowest offers now pitched at the €0.92 level.
  • Plaza Centres also rises 4.9% to the €1.685 level – just minimally below its 2010 high. A single trade of 5,000 shares transacted today with no further offers in sight.
  • HSBC edges 0.9% lower to €2.835 across three trades totalling 3,190 shares. Further offers remaining unsatisfied at the closing price whilst best bids now placed at the €2.825 level.
  • Meanwhile BOV closes unchanged at the €3.24 level for the second successive session. Just over 7,900 shares change hands today with best bids now in the market at €3.20 whilst lowest offers pitched at the €3.25 level. Tomorrow is the end of the Bank’s financial year. BOV generally publishes its full-year results by the end of October.
  • GO share price down 1.1% to €1.83 on a thin trade of 304 shares.  Further bids remained unsatisfied at the closing price whilst lowest offers now pitched at the €1.89 level.
  • Simonds Farsons Cisk this afternoon announced its July 2010 interim results revealing a 19.4% increase in after-tax profits to €2.2 million as the growth in revenue offset the rise in costs (mainly utility bills). The Directors declared an interim dividend of €0.0133 per share to shareholders as at close of trading on Tuesday 5 October. Further details on the results available here.

Comments are closed.