Daily Market Highlights (05.11.09)

  • MSE Share Index retreats for the second consecutive session to 3,217.926 points (-1.50%) as both index heavy-weights BOV and HSBC together with MaltaPost close in negative territory. The rest of the active equities close unchanged. 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 this afternoon. 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.
  • BOV falls for the second consecutive session despite still trading with the right to the final gross dividend of €0.215 per share. Share price declines 1.6% to €3.798 on volumes of 20,753 shares. The September 2009 results published last Friday show 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 today. The Directors also announced a 1 for 4 bonus issue. Further details of results available here.
  • Meanwhile HSBC drops by 3.4% to €2.849 after touching an intra-day high of €2.91. 17 trades amounting to 20,000 shares exchanged today with further offers at the €2.848 level and few bids at €2.79.
  • FIMBank’s share price unchanged at €1.14 after dropping to the €1.12 level during the session. A total of 47,000 shares exchanged during this morning’s session. Yesterday evening FIMBank announced the signing of an agreement for the setting up of a factoring joint venture in India together with Punjab National Bank, Banca IFIS and Blend Financial Services Ltd. Further details available here.
  • MaltaPost closes at a fresh 2009 low of €0.60 on volumes of 4,833. Best bids are now placed at €0.605 whilst lowest offers are pitched at the €0.65 level.

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