Daily Market Highlights (29.12.11)

  • MSE Share Index moved a further 0.1% higher to 3,090.657 points as Farsons and RS2 Software trade higher. Meanwhile the other three active equities, namely HSBC, BOV and MIA, traded unchanged. Shallow trading activity still characterising the last few sessions of 2011. Download a copy of the Equity Market Summary.
  • On the bond market, the Rizzo Farrugia MGS Index closed higher for the fourth consecutive session with another 0.1% rise to a new 7-week high of 988.33 points. This reflects the recent retreat in yields which are currently at 1.85% as concerns over the Eurozone sovereign debt crisis remain despite the €489.2 billion 3-year loans issued by the European Central Bank last week and the lower yields on the new bond auctions by the Italian Government over the past two days.
  • New bids helped RS2 Software shares to rise 1.7% and close at the equity’s 2011 high of €0.60 across two trades totalling 9,199 shares. Further offers unsatisfied at the closing price whilst best bids pitched at the €0.57 level. Equity set to rank as the best performer of the year with a yearly increase of 25% reflecting the improved results registered during the second half of 2010 and the first six months of 2011.
  • Similarly, Farsons’ share price jumped 5.3% during this morning’s session to regain the €1.80 level Over 3,300 shares exchanged today with best bids now placed at €1.72 whilst lowest offers still pitched at the €2.00 level.
  • HSBC held on to yesterday’s 3.2% increase as a further 1,000 shares changed hands at the €2.58 level. However offers already placed minimally below the last closing price. Yesterday, the Bank announced the sale of its card acquiring business for €11 million to HSBC Merchant Services Ltd (Global) which is a subsidiary of Global Payments Inc – a leading provider of electronic transaction processing services. HSBC also explained that the new subsidiary will be its preferred strategic provider of card acquiring services. This sale falls in line with HSBC Malta’s strategic plan set out in May 2011 and the profit from the sale of this business will help partially offset the circa €10 million restructuring one-off costs which mainly relate to early retirement schemes.
  • BOV shares also unchanged at the €2.51 level across three trades amounting to 1,821 shares. Other offers unsatisfied at the closing price whilst best bids still in the market at the €2.50 level. BOV’s equity will trade with the entitlement to the bonus share issue until Monday 9 January 2012.
  • Likewise no change in the share price of MIA as 2,740 shares were exchanged at the €1.69 level. Best bids outstanding at €1.65 whilst lowest offers pitched at the €1.75 level.