Daily Market Highlights (02.12.09)

  • MSE Share Index recovers some of the declines registered in the previous three sessions. Index advances by 0.7% to 3,345.295 points on gains in HSBC and GO which offset declines registered in BOV, Middlesea and Plaza Centres. Trading activity in the equity market fails to improve with increased volumes registered in the bond market. Download a copy of today’s Equity Market Summary.
  • HSBC in positive territory for the third consecutive session as the share price jumps a further 3.2% to completely recover from last Friday’s plunge and regain its 2009 high of €3.25. Just over 7,900 shares exchanged today with best bids now in the market at €3.215 whilst few other offers outstanding at the closing price.
  • GO edges 1.6% higher to close at a new 13-month high of €1.97 on six trades amounting to just below 13,200 shares. Lowest offers now placed at the €1.99 level. GO yesterday announced that it has secured exclusive local broadcasting rights for England’s Premier League for the three football seasons 2010/11, 2011/12 and 2012/13.
  • Meanwhile BOV sheds 1.9% to drop back to the €3.70 level on volumes of just over 7,900 shares. Best bids now placed at €3.655 whilst lowest offers in the market at the €3.74 level. On Monday BOV published the agenda for the forthcoming Annual General Meeting scheduled for 16 December. Amongst the resolutions, shareholders will be asked to approve the final gross dividend of €0.215 per share and a 1 for 4 bonus issue.
  • Middlesea’s share price dips lower for the third successive session. Equity declines a further 4.7% to yet another fresh all-time low of €0.61 on three trades totalling 6,500 shares with other offers still in the market at the closing price. Rights Issue subscription period closes on 14 December. Further details available here.
  • A single trade of 9,500 Plaza Centres shares transacted at a fresh 22-month low of €1.56, representing a 2.5% drop from the previous close. Best bids placed at €1.55 with lowest offers still in the market at the €1.63 level. Last week the Company issued its Interim Directors’ Statement explaining that after the completion of the refurbishment of the shopping centre and rebranding exercise earlier this year, Plaza embarked on a third phase of its expansion programme at the end of the third quarter. The Directors confirmed that similar to previous years, occupancy for the period had remained high at 95.2% and the financial position of the company has remained satisfactory and in line with projections and expectations.
  • MIA edges minimally higher to a close of €2.40 on a single trade of 3,200 shares. Significant spread between best bids at €2.21 and lowest offers at the €2.40 level. Last week the airport operator issued its Interim Directors’ Statement stating that the Group’s 2009 full-year financial results should be largely in line with the projections made at the beginning of the year and with those of 2008. Further details available here.
  • Mizzi Organisation Finance new €30 million bond issue shortly expected to commence trading following last Monday allocation policy. Further details available here.

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