Daily Market Highlights (29.10.10)

  • BOV’s share price gains help the local equity market move back into positive territory. MSE Share Index up 0.3% to 3,374.267 points as the increases in BOV, GO and Farsons offset the declines in MIA, IHG and MaltaPost. Meanwhile HSBC closes unchanged. Download a copy of today’s Equity Market Summary.
  • This afternoon BOV published its September full-year results showing a 20.9% increase in pre-tax profits to €98.9 million on the back of both increased interest and non-interest income. The Directors recommended a final gross dividend of €0.16 and a 1 for 5 bonus share issue. Further details of results available here. Prior to the results announcement, BOV’s share price jumped 1.5% to the €3.35 level across sixteen trades amounting to 24,250 shares. The strong demand during the past week resulted in a 3.4% increase in BOV’s share price for the equity to rank as the best performing during the last five sessions.
  • Meanwhile HSBC today closed unchanged at the €2.80 level on low volumes of 4,190 shares. Equity also ended the week 1.1% higher.
  • GO edges minimally higher today to close at €1.87 – unchanged over the week. 4,000 shares change hands today with further offers unsatisfied at the closing price whilst best bids now placed at the €1.83 level.
  • A small deal of 333 Simonds Farsons Cisk shares transacted at the €1.75 level, representing a 1.7% increase over the previous close. Just 67 shares remain unsatisfied on the offer side at the last traded price whilst best bids placed at the €1.68 level.
  • MIA closes lower for the second successive session after touching a new 2010 high of €1.66 in mid-week. The share price of the airport operator declines by a marginal 0.6% today to close at the €1.64 level on volumes of only 200 shares. Despite the drop in the past two sessions, the equity still closed the week 2.5% higher.
  • MaltaPost also fails to hold on to its 2010 high as the equity slipped 1.1% lower to €0.91 across three trades totalling over 4,400 shares.
  • IHG Holdings sheds 3.2% to a new all-time high of €0.949 on a single trade of 1,000 shares. Today’s drop places the equity as the worst performer this week.
  • On Tuesday, the Treasury published a Prospectus in terms of the upcoming Malta Government Stock issues. The 2 new stocks are: (i) 3.75% MGS 2015 (VI) (Fungible Issue) and (ii) 5.25% MGS 2030 (I) (Fungible Issue). Prices will be determined on Thursday 4 November 2010 and the subscription period will take place between 8 and 10 November. Further details available here.
  • Earlier this week, FIMBank plc announced that it received over 2,100 applications with a total value of almost €33 million equivalent for its 4.25% EUR and USD 3-year bonds. Interest on the bonds starts accruing from 1 November whilst the bonds will be listed on the Official List of the Malta Stock Exchange by not later than 11 November.

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