Daily Market Highlights (01.02.10)

  • Following last week’s 1.9% drop, the MSE Share Index eases a further 0.1% to 3,841 points during this morning’s session as declines in Lombard and Middlesea offset the 4.2% increase in 6pm Holdings. Meanwhile the other six equities, including BOV and HSBC, closed unchanged. Download a copy of today’s Equity Market Summary.
  • BOV maintains the €3.40 level on low volumes of 7,570 shares. Last Friday the Bank published its Interim Directors’ Statement covering the period from the start of their 2009/10 financial year on 1 October 2009. The Directors stated that the operating profit for the three months ended 31 December 2009 has been satisfactory. The Directors warned that on the basis of Middlesea’s Rights Issue Prospectus published on 20 November 2009 and the subsequent announcement that revealed a deteriorating situation at the Group’s Italian subsidiary Progress Assicurazioni, BOV expects to report a negative charge with respect to the financial performance of its associate company. On the Balance Sheet side the Bank maintained strong liquidity and capital ratios. In conclusion, the Directors announced that the Bank will soon approach the market with a new bond issue. Further details available here.
  • HSBC also unchanged at the €3.90 level after easing from an intra-day day high of €3.91. Low volumes also traded in HSBC with only 4,720 shares changing hands this morning. Best bids still in the market at the €3.75 level whilst further offers remain unsatisfied at the last closing price. HSBC is shortly expected to publish its 2009 full-year results and declare a final dividend to shareholders.
  • GO maintains the €2.28 level after easing from a fresh 16-month high of €2.29. Best bids now placed at €2.24 whilst lowest offers pitched at the €2.29 level. In an interview published in the media yesterday, Forthnet’s (GO’s greek investment) CEO & Deputy Chairman, Mr Pantelis Tzortzakis, commented that Greece’s economic crisis has not impacted Forthnet with the best ever demand for its broadband products in the last quarter of 2009. Moreover Mr Tzortzakis stated that after breaking the 300,000 subscribers mark in December, in mid-January Forthnet had already increased its subscriber base to over 320,000 subscriptions.
  • Middlesea continues to slip lower as the equity sheds a further 5.7% to drop back to the €0.81 level. Low volumes persist in the insurance equity with just over 7,600 shares traded this morning. Yesterday the Insurance Group announced that it will be holding an Extraordinary General Meeting on 16 March 2010. Agenda of this meeting still to be published.
  • A single trade of 1,000 Lombard shares transacted at the €3.11 level, representing a 0.3% decline from the previous close. The Bank is scheduled to publish its 2009 full-year results on 11 March 2010.
  • 6pm Holdings marginally recovers from last Friday’s 28.4% drop as its share price climbs 4.2% to regain the GBP0.50 level. Three trades totalling 10,000 shares executed this morning with no bids in sight and lowest offers now placed at the GBP0.53 level.
  • A further 2,700 Grand Harbour Marina shares trade at the €1.90 level. Last week the Company announced details of a €10 million, 10-year bond issue carrying a coupon of 7%. Further details on the bond issue available here.
  • MIA trades unchanged at the €3.09 level on a single trade of 1,000 shares. Best bids now at the €2.90 level with further offers outstanding at the last trading price. Equity jumped 28.8% during January on renewed demand following the Company’s recent announcement that it is forecasting a 2.8% growth in passenger movements for 2010.
  • A miniscule trade of 124 Datatrak Holdings shares transacted today with best bids already placed higher at the €0.20 level. This morning Datatrak confirmed that all the resolutions were approved at last Friday’s Annual General Meeting including a change in the company name from Datatrak Holdings plc to Loqus Holdings plc.

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