Daily Market Highlights (29.11.11)

  • MSE Share Index dropped 0.3% to 3,122.84 points. Three equities traded on the stock market at low volumes during this morning’s session. Download a copy of today’s Equity Market Summary.
  • The Rizzo Farrugia MGS Index recovered by 0.2% from yesterday’s 17-month low of 969.426 points. This morning the Italian Treasury succeeded in selling €7.5 billion in new government bonds. However yields shot up with returns on 3-year paper rising from 4.93% in October to 7.89% and yields on 10-year paper rising from 6.06% to 7.56%.
  • Yesterday the Treasury announced a Conversion Offer by Switch Auction of the 5.70% MGS 2012 (III) to be held between Monday 5 December at 08.30 am and Tuesday 6 December at 02.00 pm. The price of the 5.7% MGS 2012 (III) given to those investors wishing to convert will be announced on Friday 2 December at 04.00 pm. Further details available here.
  • BOV’s share price edged 0.8% higher to regain the €2.52 level on fresh demand for these shares. A total of 9,325 shares changed hands today ahead of the Bank’s Annual General Meeting scheduled to be held on Friday 16 December. During the meeting, shareholders will be asked to approve a number of resolutions including the recommended final gross dividend of €0.08 per share and a 1 for 8 bonus share issue. Further bids remain outstanding at €2.52 with lowest offers at the €2.53 level.
  • HSBC’s equity dropped by 1.1% today to close at a new 29-month low of €2.58 on lack of support for the equity at the previous 2011 low of €2.60 and fresh offers entering the market. Thirteen trades were executed during this morning’s trading session for a total of over 12,600 shares.
  • GO’s share price shed 3.7% to drop back towards its all-time low of €1.00 on weak activity of only 2,000 shares. This morning, GO issued an announcement confirming that the Forthnet S.A. shares listed on the Athens Stock Exchange have been transferred into the “Under Surveillance” segment. The equity was placed under Surveillance due to the total goodwill impairment of €56.9 million that led to losses in Forthnet’s books greater than 30% of the total equity. Further details are available here.
  • Crimsonwing is imminently expected to publish its interim financial statements for the 6-month period to 30 September 2011.
  • On Thursday 1 December, MaltaPost will be publishing its September 2011 full-year results and also declaring a full-year dividend to shareholders.