Daily Market Highlights (03.12.2010)

  • MSE Share Index closes minimally higher today as the gains in GlobalCapital (+26.4%) and GO (+0.5%) offset the minimal declines in HSBC (-0.3%) and MIA (-0.2%). Despite this morning’s minimal recovery, the MSE Share Index suffered a 0.5% decline this weekly as index heavy-weights HSBC and IHI dropped. Meanwhile, international equity markets staged a strong recovery over the past two days following yesterday’s decision by the European Central Bank to introduce a three-month delay to its plan to reduce liquidity support for European banks. Download a copy of today’s Equity Market Summary .
  • 10-year Eurozone yields climb to a new 6-month high of 2.87%. Malta Government Stock bid prices lowered by the Central Bank of Malta Stockbroker this week. Meanwhile, the recently listed 5.25% MGS 2030 (I) FIB continued to rise adding a further 11 basis points today to close at 103.96%.
  • Yesterday afternoon, MIDI plc announced the closing of subscriptions of its share issue as soon as the amount of applications exceeded the 44,444,444 ordinary shares. The Company also held an Extraordinary General Meeting during which shareholders approved a resolution to enable companies that are ‘Connected Persons’ of some of the Directors to participate in the share issue.
  • HSBC reverses yesterday’s gains as it edges 0.34% lower to close at €2.89 – representing a weekly drop of 1.7%. Lowest offers now pitched at the closing price whilst best bids in the market at the €2.88 level.
  • BOV closes unchanged at €3.70 across fourteen trades totalling 15,267 shares. At the current price level, the equity is 0.5% above last week’s close of €3.68. Further offers unsatisfied at the closing price with best bids in the market 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.
  • GO added 0.5% this morning to close the week at €1.91 over 11,100 shares. GO’s subsidiary Forthnet announced this week that one of its largest shareholders, Cyrte Investments GP I B.V., increased its stake from 10.28% to 24.3%. Cyrte Investments is now Forthnet’s second largest shareholder. The share price of the Greek company this morning climbed by over 15% to €0.53 on volumes exceeding 1.3 million shares. Forthnet’s equity has recovered by more than 50% from its recent low of €0.35.
  • GlobalCapital recouped most of last week’s losses as it climbed 26.4% to €1.26 over 21,800 shares.

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