Daily Market Highlights (01.06.10)

  • Local equity market in negative territory for the sixth consecutive session. MSE Share Index edged a further 0.2% lower to close at 3,477.286 points as the drop in HSBC offset the marginal rise in Middlesea Insurance. The other three active equities closed this morning’s session unchanged. Following today’s downturn the Index is just 0.5% higher than its value at the beginning of 2010. Download a copy of today’s Equity Market Summary.
  • This morning both Simonds Farsons Cisk plc and Eden Finance plc closed their respective bond offerings due to oversubscription. The issuers will publish their respective allocation policies in the next few days.
  • Sustained selling pressure forces HSBC to drop to a fresh 2010 low of €2.95 before recovering to the €2.98 level – 0.7% lower than the previous close. Ten trades amounting to 18,200 shares exchanged today with offers already placed below the last traded price at €2.975 whilst best bids now placed at the €2.90 level.
  • Meanwhile BOV closed unchanged at the €3.28 level after easing from an intra-day high of €3.30. Almost 19,000 shares traded today with further bids unsatisfied at the closing price whilst lowest offers still in the market at the €3.30 level.
  • A single trade of 8,600 Middlesea Insurance shares transacted at the €0.86 level representing a 0.6% rise over the previous close. Further bids outstanding at the closing price whilst lowest offers pitched at the €0.87 level.
  • IHI and GO both closed unchanged on low volumes. A single trade of 5,000 IHI shares transacted today at €0.825 with further bids outstanding at the closing price. GO maintains the €2.075 level across 1,000 shares.
  • MIA’s 2-for-1 share split, approved at the last Annual General Meeting, will take effect as from today. Therefore the number of MIA shares now amount to 135.3 million. The Malta Stock Exchange will tomorrow lift the trade range on MIA shares to allow the market to adjust the equity’s share price.

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