Daily Market Highlights (04.11.09)

  • Following the sharp gains over the past two days, MSE Share Index retreats by 0.3% to 3,266.918 points as BOV reverses some of the recent gains registered. Crimsonwing, MaltaPost and Medserv also close in negative territory whilst Lombard jumps 5.9%. Download a copy of today’s Equity Market Summary.
  • Last Friday the Treasury announced the issue of 3 new Malta Government Stocks for a total aggregate amount of €80 million subject to an over-allotment option of up to a further €20 million. The 3 new stocks are: (i) 3.6% MGS 2013 (IV) (Fungible Issue), (ii) 4.6% MGS 2020 (II) and a (iii) Floating Rate% MGS 2015 (V) available only by tender for a minimum of €250,000. Offer prices of these issues will be announced tomorrow. Further details available here.
  • Also last Friday Mizzi Organisation Finance plc announced a €25 million bond issue at a coupon of 6.2% per annum. The bonds have a final maturity date of 30 November 2019 and the Issuer reserves the right to increase the amount up to a further €5 million in the event of over-subscription. Existing holders of the 6.7% Mizzi Bonds 2009 / 2012 will be given allocation preference. Further details, application form and prospectus available here.
  • After soaring 13.8% in the previous two sessions, BOV’s rally comes to an end despite still trading with the entitlement to the final gross dividend. Share price drops 1.7% to close today’s session at €3.86 after touching a fresh 16-month high of €3.95. Just over 24,100 shares exchanged today with best bids now at €3.83 whilst further offers remained unsatisfied at the closing price. The September 2009 results published last Friday showed a pre-tax profit of €81.8 million, representing an increase of over 100% compared to the Group’s profitability in the previous financial year. The Directors recommended a final gross dividend of €0.215 per share (Sep 08: €0.0563) to shareholders as at the close of trading on Thursday 5 November. The Directors also announced a 1 for 4 bonus issue. Further details of results available here.
  • Meanwhile HSBC closes unchanged at the €2.95 level after touching an intra-day high of €2.99. Eight trades amounting to 14,555 shares exchanged today with few bids at the €2.91 level whilst further offers outstanding at the €2.95 level.
  • Lombard Bank‘s share price jumps 5.9% to regain the €2.70 level on three trades totalling over 9,000 shares.
  • GO maintains the €1.65 price level on volumes of 5,000 shares. Meanwhile Medserv eases minimally lower to close at €3.998 on a single trade of 750 shares with no further demand in the market.
  • Crimsonwing slumps 25.5% to the €0.29 level as trade ranges are removed by the Malta Stock Exchange. Two trades totalling 20,000 shares transacted this morning with best bids still pitched at €0.25 whilst lowest offers now in the market at the €0.31 level.
  • MaltaPost‘s equity trades ‘limit down’ and closes 6.9% lower at a fresh 2009 low of €0.605 on volumes of 17,328 shares. Best bids still placed at €0.60 whilst lowest offers now pitched at the €0.63 level.

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