Daily Market Higlights (06.09.10)

  • Following last week’s 2.4% slump, the MSE Share Index slipped a further 0.8% during today’s session to close at 3,369.212 points. The positive performances of BOV, GO and Crimsonwing were outweighed by the declines in IHI, MIA, FIMBank and MaltaPost. Meanwhile HSBC and Plaza closed unchanged. Download a copy of today’s Equity Market Summary.
  • The 10-year benchmark Eurozone yield surpasses the 2.3% level resulting in a downturn in Malta Government Stock prices. In fact, the 4.6% MGS 2020 (II) and the respective fungible issue dropped another 16 basis points today to 105.51%. This follows the 71 basis points shed last week.
  • BOV share price trades 1.2% higher at €3.25 for most of the day before declining to €3.211 during the end of the session. Seven trades amounting to 16,700 shares transacted today with best bids at €3.21 and lowest offers still pitched at the €3.25 level.
  • Meanwhile HSBC unchanged at the €2.82 level on volumes of 20,629 shares.  Best bids in the market at €2.801 whilst lowest offers pitched at the €2.84 level.
  • IHI’s share price slumps by over 4.5% for the second consecutive session. Equity closes 4.8% lower at €0.80 on volumes of 2,976 shares. Best bids already placed marginally higher at €0.81 whilst lowest offers now pitched at the €0.84 level. IHI’s 2010 interim results, published last Tuesday, show an overall loss after tax of €9.19 million during the period under review compared to a loss of €2.81 million incurred during the first half of 2009. Further details of results available here.
  • Meanwhile GO recovers last week’s decline as the share price increases by 1.1% to the €1.89 level. GO issued its 2010 interim results last Tuesday showing an improved operating profit of €11.24 million on the back of higher revenues as well as lower costs. The Group however incurred a €7.03 million loss from its share of results of its investment in Forthnet SA resulting in a loss after tax of €5.22 million. Further details on results available here.
  • Trading volumes jump to over 100,000 shares in FIMBank. The share price of the trade finance specialist loses ground as it eases by 2.5% to the US$0.97 level. Best bids already placed minimally higher whilst lowest offers still in the market at the US$0.99 level.
  • Strong August traffic numbers fail to generate support for MIA shares. The share price of the airport operator slips 1% to €1.565 on volumes of 13,000 shares. Last Friday, the Company announced the traffic statistics for the months of August, showing a 13.4% increase in passenger movements compared to August 2009. MIA explained that passenger movements reached an all-time high of 427,924 movements. This was mainly due to the increase in seat capacity which also clocked in a new monthly record of 536,495 seats. Further details on traffic results available here.
  • Single trades effected in Plaza and Crimsonwing. Plaza unchanged at €1.65 on volumes of 1,763 shares. Meanwhile Crimsonwing jumps 5% to €0.42 across 22,000 shares.
  • MaltaPost plc eases minimally lower to €0.899 on volumes of 25,000 shares. Best bids still in the market at €0.85 whilst further offers remained unsatisfied at the closing price.

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