Daily Market Highlights (01.12.10)

  • Yesterday’s positive performance short lived as the local equity market closes lower. MSE Share Index marginally down at 3,465.793 points as BOV and Middlesea closed in negative territory whilst the two other active equities, namely HSBC and RS2 Software, remained unchanged. Minimal trading activity registered during this morning’s session as investors turn attention to the bond market. Download a copy of today’s Equity Market Summary.
  • Central Bank of Malta Stockbroker reduces its Malta Government Stock bid prices today as the benchmark 10-year Eurozone yield hits the 2.79% level. Over €270,000 (nominal) trade in the recently listed 5.25% MGS 2030 (I) FIB with its share price closing 40 basis points lower at the 103.10% level after maintaining the 103.50% level for most of the day.
  • General Public Offer of MIDI plc share issue now open. The Company is issuing 44,444,444 shares at a price of €0.45 per share with an over-allotment option of up to a further 22,222,222 shares. Further details available here.
  • BOV eases minimally today to €3.699 across four trades amounting to just 1,741 shares. Few other offers remained unsatisfied at the closing price whilst best bids now placed at the €3.68 level. Investors acquiring BOV shares until 7 January 2011 will be entitled to the 1 for 5 bonus issue. BOV’s Annual General Meeting will take place on Thursday 16 December.
  • Meanwhile almost 13,700 HSBC shares traded unchanged at the €2.89 level. Further offers outstanding at the last traded price whilst best bids now placed at the €2.885 level.
  • Middlesea Insurance down 0.3% to €1.047 on a single trade of 3,000 shares. Other offers in the market available at the closing price whilst best bids placed at the €1.00 level.
  • A single trade of 2,000 RS2 Software shares transacted at the €0.50 level, unchanged from the previous close. Another 52,900 shares on offer at the closing price whilst best bids still pitched at the €0.25 level.
  • This afternoon Forthnet announced further open market acquisitions by Cyrte Investments GP I B.V. took place last week. Cyrte now holds a total of 37,807,737 shares representing 24.3% of the total share capital of Forthnet. Following the recent acquisitions, Cyrte Investments is now the second largest shareholder. Meanwhile, GO shares inactive today with offers in the market placed minimally below the last closing price of €1.90 whilst best bids pitched at the €1.87 level.
  • Crimsonwing still inactive despite the recent publication of its half-year results. The accounts covering the six months ended 30 September showed an improvement in revenue, EBITDA and pre-tax profit. However the Group is still dealing with operational challenges at the Dutch operation Crimsonwing BV. Further details available here.

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