Daily Market Highlights (30.04.12)

  • MSE Share Index up 0.29% to a new 4-week high of 2,969.161 points mainly following a 1.9% rise in BOV’s equity. Download a copy of the equity market summary here.
  • On the local bond market, the Rizzo Farrugia MGS index edged marginally higher to a new 7-week high of 987.643 points in line with the drop in the 10-year Eurozone yields to 1.677%. The Eurozone yields eased lower following the announcements that Spain has dropped back into recession and the downgrade by the rating agency Standard and Poor’s of 11 Spanish banks. The main highlight on the local corporate bond market was the initial trades registered in the 4.25% Bank of Valletta plc 2019 bonds. This bond closed the day 51 basis points above the par value.
  • High activity was observed in the equity of Bank of Valletta plc with a total of 44,267 shares changing hands across 23 deals. BOV closed 1.9% higher at €2.15 with the initial trades taking place at the €2.20 level. The bank published its interim results last Friday. BOV reported a 9% increase in pre-tax profits to €49.1 million. The Board of Directors declared a gross interim dividend of €0.06 per share (8% above last year’s interim) payable to those shareholders as at close of trading on Monday 7 May. Further details available here.
  • FIMBank’s equity was active for the first time since the shares started trading without the entitlement to the bonus share issue and full-year dividend. Activity in FIMBank shares was also high with a total of 259,644 shares changing hands. The share price dropped 4.3% from its bonus issue adjusted price. FIMBank is scheduled to hold its Annual General Meeting on 10 May.
  • Activity in HSBC Bank Malta plc was muted as only 4,000 shares traded across 4 deals. HSBC advanced marginally above its 2012 low to end the day at €2.501. Last Friday the bank distributed its final gross divided of €0.072 per share.
  • The reporting season comes to an end today as MIDI plc is expected to publish its 2011 financial statements.
  • The other active equity was GO plc. The share price of the telecom operator closed unchanged at its all-time low of €0.75 as a further 20,000 shares traded at this level. GO will be holding its Annual General Meeting on 9 May during which shareholders will be asked to approve the customary resolutions as well as a number of special resolutions as put forward by some shareholders.