Daily Market Highlights (30.12.10)

  • Local equity market wraps up 2010 with its sixth consecutive positive performance. The MSE Share Index gained 0.7% this morning to close at 3,781.237 points as HSBC, BOV and MIA all traded higher. The Share Index closed the year 9.3% higher mainly due to the double digit increase in BOV and IHI and a marginal annual increase for HSBC. Download a copy of today’s Equity Market Summary.
  • The 10-year Eurozone benchmark yield eased back to the 2.97% resulting in the Central Bank of Malta Stockbroker to raise its Malta Government Stock bid prices. In turn, the Rizzo Farrugia MGS Index edged 0.09% higher today to 992.630 points representing a 0.7% rise since the start of the year.
  • Exceptionally high volumes amounting to over 113,000 shares traded in HSBC. Share price up for the fourth session this week to reach the €3.255 level representing a marginal yearly increase. The Bank generally publishes its full-year results by the end of February.
  • BOV’s share price lifted for the fifth consecutive session with equity rising another 0.7% higher to close at the €3.858 level. Nine trades totalling 10,350 shares transacted today. 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. BOV ended 2010 with a 24.6% rise on the back of a strong set of results for the year ended 30 September 2010 and the run up to the aforementioned bonus issue.
  • MIA completely recovered from yesterday’s 0.6% decline as its share price edged 1.2% higher on a single trade of 5,000 shares. The airport operator ranks as the second best performing equity this year with a yearly increase of 38.3%. MIA is well placed to exceed its forecast of an 8% growth in passenger movements as it already reported a 13% increase in passengers during the first eleven months of 2010.
  • The best performer of 2010 is MaltaPost with a 42.9% rise to an all-time high of €1.00 as the postal operator maintained its status as a high dividend paying equity. A total of 448 deals totalling 2,683,900 MaltaPost shares transacted this year representing 8.8% of the Company’s issued share capital.
  • On the other hand, the two worst performing equities were 6pm and RS2 Software as both IT companies were impacted by the difficult trading conditions in the IT industry. 6pm, which yesterday announced the acquisition of a majority stake in Softweb Ltd, closed the year 20.9% lower. Further details on the acquisition available here. Likewise RS2 shed 13.8% this year. This morning RS2 announced the implementation of an employee share option scheme, details of which are available here.
  • No trading session will be held tomorrow and the Malta Stock Exchange will open again for business on Monday 3 January 2011.

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