Daily Market Highlights (05.10.09)

  • Following last week’s 6% rise, the MSE Share Index sheds 0.8% to drop to 3,162.486 points as the two large banks and MIA trade lower. Few trades transacted during this morning’s session with a value of just €56,730. Meanwhile high volumes traded in most of the active Malta Government Stocks for a total value of €2.4 million. Download a copy of today’s Equity Market Summary.
  • HSBC’s share price slips 1.8% to close today’s session at the €2.75 level on volumes of 3,625 shares. Further bids of 16,330 shares remain unsatisfied at the closing price with lowest offers in the market at the €2.78 level.
  • BOV in negative territory for the second consecutive session on some profit taking following last week’s 8.7% rise. Equity edges 0.3% lower to €3.35 on just over 7,200 shares. Best bids still in the market at the €3.301 level with further offers outstanding at the last traded price. The Bank’s full-year results publication is expected by the end of October.
  • MIA reverses most of last Thursday’s rise as the share price retreats by 5.2% to close at the €2.25 level. Just over 5,300 shares exchanged today with best bids still pitched at €2.15 and lowest offers placed substantially higher at the €2.989 level.
  • A further 800 FIMBank shares trade unchanged at the US$1.20 level. Meanwhile Plaza Centres edges minimally lower to the €1.63 level on a single trade of 6,000 shares.
  • Greek company Forthnet (in which GO and Emirates International have an indirect equity stake of 37.1%) last Friday announced that it submitted a non-binding bid for WIND Hellas. Further details available here. GO inactive today with best bids at €1.52 whilst offers already placed marginally below the last closing price of €1.577.
  • Last week Simonds Farsons Cisk published its financial statements for the six months ended 31 July 2009. The results show a significant improvement in the Group’s profitability from €982,000 registered last year to €1,807,000 for the first half of the current financial year which ends on 31 January 2010. The Directors declared an interim dividend of €0.01 out of tax exempt profits to shareholders as at close of trading on Tuesday 6 October. Further details available here. Equity still inactive as results fail to generate any trades with best bids at the €1.61 whilst offers placed minimally higher than the last closing price of €1.699.
  • Early last week Melita Capital announced that its €25 million 7.15% bond issue was closed early due to oversubscription. The issuer has the right to increase the total amount of the bond issue up to a maximum of €30 million. The allotment policy being adopted is expected to be announced in the next few days.
  • Also last  Tuesday, IHG Holdings plc announced its allocation policy with respect to its recent combined offering of equity and bonds. These new securities are expected to commence trading on Thursday 8 October. Details on allocation policy available here.

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