Daily Market Highlights (02.10.09)

  • Local equity market in negative territory following six consecutive sessions of gains. MSE Share Index drops 0.6% back to the 3,189.564 level as BOV, GO and Lombard trade lower. Menawhile HSBC and FIMBank close unchanged. Despite today’s downturn Index still ends the week 6% higher led by a 10% jump in IHI, BOv’s 8.7% rise and a 6.5% increase in HSBC. Download a copy of today’s Equity Market Summary.
  • BOV’s share price slides 2.6% to the €3.36 level on some profit taking. 14,000 shares trade this morning with best bids still pitched at €3.301 whilst offers already placed lower at the €3.35 level. BOV’s equity closes the week 8.7% higher after closing yesterday’s session at a 2009 high of €3.45 ahead of the Bank’s full-year results publication by the end of October.
  • Meanwhile HSBC closes unchanged at the €2.801 level on nine trades amounting to 8,000 shares. Equity registers a 6.5% weekly gain with best bids at €2.76 and lowest offers in the market at €2.80.
  • Lombard sheds 1.6% to drop back to the €2.50 level on volumes of 1,800 shares across three trades. Meanwhile a single trade of 10,000 FIMBank shares transacted at the US$1.20 level, unchanged from the previous close.
  • GO closes the day minimally lower at €1.577. Greek company Forthnet (in which GO and Emirates International have an indirect equity stake of 37.1%) today announced that it submitting a non-binding bid for WIND Hellas. Further details available here.
  • Simonds Farsons Cisk on Wednesday 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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