Daily Market Highlights (05.04.11)

  • Three of the five largest companies by market cap trade lower. MSE Share Index down 0.2% during this morning’s session to a fresh 5-month low of 3,461.067 points as BOV, MIA, and GO decline. Farsons also lower today while HSBC maintains the €2.95 level. Meanwhile, the Rizzo Farrugia MGS Index marginally recovers for the second consecutive session to 974.122 points level. Download a copy of today’s Equity Market Summary.
  • BOV’s share price down 0.3% to the €2.939 level on declining volumes amounting to only 8,800 shares. Half-year results to 31 March expected to be issued by the end of April.
  • Meanwhile HSBC maintains the €2.95 after recovering from an intra-day low of €2.93 on volumes of 12,100 shares. Best bids in the market at €2.93 whilst lowest offers placed at the €2.96 level. Next Thursday the Bank is scheduled to hold its Annual General Meeting while the net final dividend of €0.05 per share will be paid on 21 April.
  • GO trades lower for the third consecutive session as the equity sheds a further 0.7% to a new 2-year low of €1.48 across 6,000 shares. Following the 21.9% drop in the first quarter of 2011, GO’s equity has declined during the first three sessions of the second quarter as investors continue to shun the equity following the revelation of a €19.2 million loss for 2010 and a 50% cut in net dividends to €0.05 per share. GO’s equity will trade with the entitlement to the recommended dividend until 4 May. Further details on results available here.
  • MIA trades lower for the first time since turning ex-div on 1 April. Share price down 0.6% to the €1.76 level on two deals amounting to 2,000 shares. Further offers outstanding at the last traded price. The airport operator is scheduled to hold its Annual General Meeting on 5 May.
  • Simonds Farsons Cisk share price tumbles 4% to €1.70 on two small deals amounting to 791 shares. The Farsons Group generally publishes its January full-year results by the end of April.
  • Four other companies with a December year-end still have to publish their 2010 accounts. These are: MIDI, RS2 Software, 6pm Holdings and GlobalCapital.
  • Last week 6pm Holdings plc announced that it published a Prospectus with respect to a rights issue of 10,788,000 new ordinary shares at the price of £0.25 per share. Shareholders are entitled to subscribe to 1.4384 new shares for every share held. The rights issue opens on Monday 11 April and closes on Friday 29 April at 14.00 hours. Further details available here.