Daily Market Highlights (29.12.10)

  • Local equity market registers its fifth successive positive session as all four large caps trade higher today. MSE Share Index up 0.8% during the penultimate trading session of 2010 to reach 3,753.802 points as HSBC, BOV, IHI, GO, MaltaPost and IHG all rise. Meanwhile the two other active equities, MIA and Medserv, close in negative territory. Download a copy of today’s Equity Market Summary.
  • Uncertainty across European markets leads to further volatility in the Eurozone benchmark yield. Central Bank of Malta Stockbroker today lowered its Malta Government Stock bid prices as the benchmark Eurozone yield recovered from yesterday’s decline to reach the 3.02% level. The Rizzo Farrugia MGS Index edged 0.08% lower to 991.735 points.
  • BOV’s share price closed the day minimally higher at €3.83 after trading at an intra-day high of €3.86. Seventeen trades amounting to just over 16,800 shares exchanged today with further bids unsatisfied at the closing price whilst lowest offers now pitched at the €3.86 level. Shareholders on the register as at close of trading on Friday 7 January 2011 will be entitled to the 1 for 5 bonus issue which was approved by shareholders during the recent Annual General Meeting.
  • HSBC continues to build on the recent recovery ahead of the full-year results expected to be published by the end of February. Share price up by another 0.8% to €3.20 on increased volumes of 34,520 shares.  Best bids in the market at €3.196 whilst 28,500 shares on offer at the €3.25 level.
  • IHI also up for the third session this week. Equity climbs a further 2.7% to reach yet another new 2010 high of €0.945. Three trades amounting to 20,000 shares transacted today with lowest offers now available at the €0.95 level. The IHI Group recently announced that it is undertaking a private placement of new shares at a price higher than the nominal value of €1.00. Further details available here.
  • MaltaPost share price jumps 5.3% this morning to close at a fresh all-time high of €1.00 on volumes of 4,448 shares. Following today’s upturn, MaltaPost currently ranks as the best performing equity of 2010 with an increase of 42.9%. The postal operator is scheduled to publish its September 2010 full-year results on Wednesday 5 January 2011.
  • The fourth largest equity by market cap, GO, moved 0.3% higher this morning to regain the €1.935 level as it traded for the first time in a week. Almost 18,000 shares exchanged today with best bids now at €1.88 whilst lowest offers pitched at the €1.99 level.
  • IHG Holdings regains the €0.95 level (+5.6%) across a single trade of 1,000 shares. The share price of IHG has recovered by 18.8% since touching an all-time low of €0.80 on 17 December.
  • On the other hand, MIA and Medserv, closed lower. The equity of the airport operator slipped 0.6% lower to the €1.64 level on volumes of 16,800 shares. Likewise Medserv’s share price eased by 0.5% to close at the €4.25 level across four trades amounting to 14,500 shares.

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