Daily Market Highlights (01.10.09)

  • After jumping by over 6.4% during the first three sessions of the week, MSE Share Index edges a further 0.3% higher to 3,209.562 points during this morning’s session as sharp rises in BOV and MIA offset falls in HSBC and Middlesea. The Index is now just off its 2009 high of 3,249.673 points reached on 16 January. However after the increased volumes over the past few days, trading activity declines again across the nine active equities this morning. Download a copy of today’s Equity Market Summary.
  • Fresh demand helps BOV’s share price to rise by 4.5% to a fresh 2009 high of €3.45 on volumes of 8,600 shares. The equity had traded up to €3.41 yesterday before ending the session at €3.301. Best bids still pitched at the €3.301 level with offers already placed 2.3% below the closing price at €3.37.
  • Following three sessions of strong gains, fresh sell orders and lack of support forces HSBC’s equity to close 3.1% at €2.801 on low volumes of 2,630 shares. Best bids in the market at €2.75 whilst lowest offers placed at the €2.81 level.
  • FIMBank’s share price marginally rises to US$1.20 on volumes of 11,000 shares. Further offers amounting to 30,656 shares in the market at the last trade price.
  • Single trades in MIA, IHI and MaltaPost push respective share prices higher. The airport operator rises 6.5% to the €2.374 level on 153 shares. IHI edges 0.6% higher to €0.88 on volumes of 668 shares whilst MaltaPost regains the €0.70 level on a trade of 800 shares.
  • 1,100 Middlesea shares trade at a fresh multi-year low of €1.60 representing a 2.4% decline from the previous close. Few other bids in the market at the closing price with some offers now placed at the €1.64 level.
  • Miniscule volumes also in GO and Lombard. The telecoms Group eases marginally lower to €1.578 whilst 110 Lombard shares trade unchanged at the €2.54 level.
  • Yesterday, Simonds Farsons Cisk published its financial statements for the six months ended 31 July 2009. The results show a significant improvement in the Group’s profitability from €982,000 registered last year to €1,807,000 for the first half of the current financial year which ends on 31 January 2010. The Directors declared an interim dividend of €0.01 out of tax exempt profits to shareholders as at close of trading on Tuesday 6 October. Further details available here.
  • On Tuesday Melita Capital announced that its €25 million 7.15% bond issue was closed early due to oversubscription. The issuer has the right to increase the total amount of the bond issue up to a maximum of €30 million. The allotment policy being adopted is expected to be announced in the next few days.
  • Also on Tuesday, IHG Holdings plc announced its allocation policy with respect to its recent combined offering of equity and bonds. Both the equity and bond offerings were oversubscribed. Details on allocation policy available here.

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