Daily Market Highlights (29.09.11)

  • MSE Share Index up 0.5% today to 3,091.637 points as six out of the eight active equities traded higher. On the other hand, MIDI eased lower whilst RS2 Software closed unchanged. Download a copy of today’s Equity Market Summary. On the bond market, the Rizzo Farrugia MGS Index eased another 0.1% lower to 988.460 points reflecting the continued recovery in Eurozone yields to just below the 2% level.
  • HSBC’s share price continues to trade within a tight range of €2.63 and €2.64. The equity today regained the €2.64 level across six trades totalling over 5,000 shares. However offers are already placed lower at €2.63.
  • BOV also edged 0.2% higher today to close at the €2.535 level on low volumes of 5,100 shares. Other offers unsatisfied at the closing price with best bids still in the market at the €2.52 level. This week marks the end of the Bank’s financial year with the full-year results expected to be published by the end of October.
  • FIMBank recovers most of yesterday’s 9.1% slump as its share price regains the US$0.747 level representing a 6.7% rise from the previous close. Other offers outstanding at the closing price with highest bids placed at the US$0.67 level.
  • A small trade of 216 Middlesea Insurance shares traded at the €0.92 representing a 1% rise over the previous close. The equity of Middlesea had been inactive since 7 September mainly as a result of the mandatory offer by Mapfre Internacional which closed last Monday 26 September. Middlesea is expected to announce the take-up of the offer next week.
  • MIA’s share price advanced by 2% to regain the €1.57 level on volumes of 6,000 shares. Further offers unsatisfied at the closing price with highest bids at the €1.51 level.
  • A further 27,000 RS2 Software shares traded unchanged at the €0.58 level.
  • The only negative performer equity today was MIDI which eased 1.2% lower to €0.415 on a small deal of 500 shares. Offers already placed minimally below the last trading price at the €0.414 level.
  • Farsons’ shares inactive today despite yesterday’s interim results publication covering the six months ended 31 July 2011 revealed a 20.8% rise in profitability to €2.6 million. This growth was due to the stable sales performance of locally manufactured beverages, improved results from the importation segment and franchised food business, the non-recurrence of an impairment of assets as well as a continuous effort to contain overheads and rightsizing operations. The Directors declared a net interim dividend of €0.0133 per share (equivalent to the previous interim dividend) to all shareholders as at close of trading on Tuesday 4 October. Further details on results available here.