Daily Market Highlights (30.06.2011)

  • The MSE Share index rose by 0.23% to close at 3,327.131 points as BOV and MIA regained the €2.70 and €1.70 levels respectively. Meanwhile HSBC and GO traded unchanged. Despite today’s slight recovery, the local bourse shed a further 3.9% during the second quarter of the year resulting in a year-to-date loss of 12% as the majority of the active equities closed lower including the three index heavy-weights BOV, HSBC and IHI. Download a copy of today’s Equity Market Summary .
  • The Rizzo Farrugia MGS Index edged 0.3% lower to 973.679 points as benchmark Eurozone 10-year yields rose after the Greek parliament passed a crucial package of austerity measures. Moreover ECB President Jean-Claude Trichet signalled that the ECB will raise interest rates next week as a report showed the euro-region inflation rate exceeded the Bank’s 2% ceiling for a seventh month in June.
  • Bank of Valletta plc’s share price edged 0.8% higher to €2.70 on declining volumes amounting to 6,841 shares. After plunging 9.6% during the first quarter of the year, the Bank’s shares slipped by a further 7.1% to close the first half of the year at €2.70 level. Today is the last day for shareholders of the La Valette Multi-Manager Property Fund to reply to the Bank’s buy-back offer of €0.75 per shares.
  • HSBC’s equity traded unchanged at €2.90 on volumes of a mere 1,000 shares. The Bank’s share price slid by a further 1.5% during the second quarter of the year resulting in a year-to-date loss of 10.9%. Further bids remain unsatisfied in the market at the closing price with lowest offers at €2.939.
  • MIA’s share price regains the €1.70 level on fresh demand of 14,000 shares. Despite today’s rise, the equity still closed the second quarter 3.9% down despite posting a 15.3% increase in passenger movements during the first five months of the year.
  • GO plc’s equity closed unchanged after 1,100 shares traded at €1.38. GO’s equity declined by a further 8.6% during Q2 after it had plunged by 22% in Q1 2011.
  • During this morning’s trading session, €321,200 worth of the 6.25% Mediterranean Bank plc bonds traded at par. Last Monday the recently issued second tranche of €5 million 6.25% Mediterranean Bank plc bonds were listed on the Official List of the Malta Stock Exchange. However no trades have been affected in this issue as yet. This second issue will be merged with the first tranche of bonds issued in late 2010 on the next interest payment date which is 30 October 2011.