Daily Market Highlights (30.06.10)

  • Negative run persists across the local equity market. MSE Share Index moves lower for the sixth successive trading session. Index drops 0.5% to close at 3,365.097 points as BOV and IHI trade lower. Today marks the end of the first half of the current calendar year. During this 6-month period, the Index shed 2.8% mainly due to the negative performances of HSBC and GO. Download a copy of today’s Equity Market Summary.
  • BOV’s slides a further 0.4% lower to close at a new 2010 low of €3.089 across six trades amounting to only 3,600 shares. Best bids now placed at €3.05 whilst lowest offers pitched at the €3.10 level. Following today’s decline BOV is now 0.2% below its share price as at the close of 2009.
  • Meanwhile HSBC closes unchanged at the €2.83 level but also on low volumes of only 1,000 shares. Further bids unsatisfied at the last trading price whilst lowest offers in the market at the €2.88 level. HSBC ranks as the second worst performing equity since the start of 2010 with a 12.4% drop.
  • IHI declines by 2.3% to drop back to the €0.80 level – equivalent to its closing price as at 31 December 2009. Over 25,000 shares exchanged today with best bids now placed at €0.70 whilst lowest offers pitched at the €0.81 level.
  • Only seven out of the eighteen equities listed on the Official List of the Malta Stock Exchange performed positively during the first six months of the year. The star performers during this period are MIA (+35%), Middlesea Insurance (+30.9%) and MaltaPost (+28.8%). On the other hand the worst performer was 6pm Holdings plc which slumped 20.9% since 1 January.
  • The recently issued Secured Notes of Izola Bank plc traded for the first time this morning following last Monday’s listing. €53,000 (nominal) exchanged across three trades at the par level.
  • Following last week’s early closure of subscriptions with respect to the 6.2% Tumas Investments plc bond issue, the allocation policy is expected to be announced soon.

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