Daily Market Highlights

Oct 12, 2010


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  • MSE Share Index closes in positive territory for the first time in seven sessions. Index edges marginally higher today to 3,344.825 points as the increases in Middlesea Insurance and Simonds Farsons Cisk outweigh the marginal declines in HSBC, BOV and FIMBank. Meanwhile MIA and MaltaPost close unchanged. Download a copy of today’s Equity Market Summary.
  • HSBC tests new lows. Share price touches a fresh 2010 low of €2.795 before closing at the €2.80 level representing a 0.2% decline from the previous closing price. Over 19,600 shares trade today with further offers remaining unsatisfied at the closing price whilst best bids now pitched at the €2.79 level.
  • Meanwhile BOV eases from an intra-day high of €3.27 to close today’s session at the €3.24 level – 0.3% lower than yesterday’s closing price. 31,400 shares change hands today with further offers outstanding at the last traded price.
  • FIMBank also eases 1% lower to drop back to the US$0.95 level across six trades totalling 35,314 shares. Further offers remain unsatisfied at the closing price whilst best bids now placed at the US$0.90 level. Last week, FIMBank plc announced a new 3-year bond issue carrying a coupon of 4.25%. Investors can subscribe to the bonds in both euro and US Dollars. Preferred Applicants can subscribe at 99%. Further details on the bond issue and copy of the prospectus available here.
  • Share price of Simonds Farsons Cisk partially rebounds from last week’s 8.7% slump. Equity climbs 7% this morning to the €1.75 level on low volumes of 1,200 shares. Further offers placed at the closing price. The €0.0133 net interim dividend per share is expected to be paid on 22 October.
  • Middlesea Insurance also recovers by 2.1% to €0.97 on low volumes of 2,228 shares. Few other bids in the market at the closing price whilst lowest offers still pitched at the €0.99 level.
  • MIA maintains the €1.52 level across four trades amounting to 9,450 shares. The airport operator recently published the September traffic results which revealed a 15.4% growth in passenger movements during the month. Further details available here.
  • MaltaPost continues to trade at its 2010 high of €0.90 on volumes of just under 6,100 shares. Further bids outstanding at the closing price whilst lowest offers pitched at the €0.92 level.
  • Yesterday Mediterranean Bank plc announced that it immediately closed its bond offering due to oversubscription. The allocation policy should be announced by not later than next Monday 18 October.