Daily Market Highlights (05.04.10)

  • MSE Share Index rises 0.8% to regain the 3,600-point level as IHI’s 6.1% increase during this morning’s session offset declines in BOV, MIA, Lombard, and Grand Harbour Marina. MaltsPost also closes in positive territory whilst GO and Middlesea end the session unchanged. Download a copy of today’s Equity Market Summary.
  • IHI share price jumps 6.1% higher closing at a fresh 2010 high of €0.85 level on three trades amounting to 2,500 shares. Last Thursday IHI announced the allocation policy with respect to its recent €25 million 2017-2020 bond issue. Further details available here.
  • MaltaPost regains the €0.75 level on volumes of over 10,300 shares. Best bids still in the market at €0.70 whilst further offers of over 60,000 shares remain unsatisfied at the closing price.
  • Meanwhile BOV’s share price eases 0.2% lower to €3.325 on volumes of just over 7,100 shares. Best bids now placed at €3.30 with lowest offers now pitched at the €3.33 level.
  • Lombard also edges 0.3% lower to close at a fresh 2010 low of €2.98 on a single trade of 1,500 shares. The recently declared €0.10 gross dividend per share will be paid on 30 April subject to approval from shareholders at the next Annual General Meeting.
  • MIA sheds 0.6% to drop back to the €3.10 level on four trades totalling 4,000 shares. Further bids outstanding at the close price whilst lowest offers still pitched at the €3.20 level.
  • Grand Harbour Marina slumps 5.1% lower to €1.87 on a single trade of 2,080 shares. 2009 full-year results expected to be published shortly.
  • GO closes unchanged at the €2.18 level despite still trading with the entitlement to the final gross dividend of €0.154 per share. Low volumes of 2,000 shares traded today. Last Thursday GO announced that Forgendo Limited (the joint venture company between GO and Emirates International Telecommunications) increased its shareholding in Forthnet S.A. through an acquisition of a further 4,316,931 shares for a total consideration of €4.7 million, equivalent to €1.08 per share. Following this additional purchase, Forgendo’s equity stake in Forthnet has increased to 39.9%.
  • Middlesea continues to trade at the €0.75 level on low volumes of 2,500 shares. Best bids still placed at the €0.73 level whilst further offers remain unsatisfied at the closing price. Last week the insurance company announced that on 30 March the Italian Insurance Regulator (ISVAP) placed Progress Assicurazioni SpA in Compulsory Administrative Liquidation following the statutory 60 days of provisional administration declared on 11 February 2010.
  • Simonds Farsons Cisk this morning announced that it has submitted an application to the Listing Authority requesting the approval of a new 10-year €15 million unsecured and unsubordinated bond issue. The proceeds will be used to finance the redemption of the existing 6.6% Bonds and satisfy the general requirements of the Farsons Group including the construction of a new brewhouse. Further details available here. Simonds Farsons Cisk is expected to publish its financial results for the year ended 31 January 2010 on 14 April.
  • Last Thursday Premier Capital plc announced the allocation policy with respect to its recent bond issue. Premier Capital received a total of €35.94 million from 3,713 applications – €10.94 million in excess of the maximum aggregate amount on offer. During the pre-placement stage amounts received totalled €35.02 million for the €12.5 million reserved portion. Due to the heavy oversubscription, the Issuer only satisfied circa 35.7% of the amount applied. Meanwhile, a further €23.4 million were received during the General Public stage for the remaining balance on offer of €12.5 million. As a result, Premier announced that the first €3,000 will be allotted in full whilst it will only satisfy 28% of any remaining balance. Interest on the 6.8% Bonds started to accrue as from 1 April 2010. The Bonds are expected to be admitted to the Official List of the Malta Stock Exchange on Monday 12 April with trading expected to commence on the following day. Further details available here.

Comments are closed.