Daily Market Highlights (06.01.10)

  • Increased trading activity on local market with the MSE Share Index breaking the 3,500 mark for the first time since October 2008. Index jumps a further 0.8% this morning to close at 3,508.246 points on further gains in 4 of the active equities. Meanwhile the three other active equities close unchanged. Download a copy of today’s Equity Market Summary.
  • Various corporate bonds also active today with the 6.2% Mizzi Organisation Finance plc 2016-2019 Bonds gaining 49 basis points and the 5.35% BOV 2019 Bonds increasing by 84 basis points to regain their all time highs of 102.99% and 106.85% respectively. On the other hand the 7% GAP Developments 2011 – 2013 Bonds slumped 200 basis points to 92% and the 7% Melita Capital plc 2014 – 2016 eased 10 basis points to 100.10%.
  • HSBC’s share price increases for the third consecutive session as demand intensifies ahead of the 2009 full-year results which are normally published by the end of February. Equity rises by a further 1.5% to a new 16-month high of €3.30 on volumes of over 22,000 shares. Best bids already placed higher at €3.31 whilst lowest offers now placed at the €3.35 level.
  • BOV back into positive territory as fresh buy orders lift the share price ahead of the 1 for 4 bonus issue to those shareholders as at close of trading on 12 January 2010. Share price rises by 0.8% to regain the €3.93 level – marginally below its 2009 high of €3.95. Sustained high volumes of almost 29,000 shares this morning with best bids in the market at €3.90 whilst few other offers remain unsatisfied at the closing price.
  • Interest in Middlesea shares strengthens as the equity jumps a further 5.3% to close at the €0.875 level after easing from an intra-day high of €0.885. Increased volumes of over 56,800 shares traded this morning with further bids at the last trading price and lowest offers now at the €0.89 level. Following today’s upturn the equity is now trading 45.8% higher than the recent rights issue price of €0.60. Yesterday Middlesea announced new senior management appointments following last week’s replacement of the Chairman.
  • GO maintains the €2.10 level after recovering from an intra-day low of €2.08. Just over 9,500 shares exchanged this morning.
  • IHG Holdings’ share price rises by 0.9% to €1.019 on a single trade of 500 shares. Recently Island Hotels Group announced the acquisition of the 83,000 sqm Half Ferh site for €12 million following the award of a public tender issued by the Government of Malta in March 2009. The Group intends to develop the site through its newly established affiliate, The Heavenly Collection Limited and will be adopting a business model similar to the one used at the Radisson Golden Sands Resort & Spa for this new site. Further details available here.
  • Simonds Farsons Cisk closes unchanged at the €1.70 level after dropping from an intra-day high of €1.725. Few bids in the market at €1.60 whilst lowest offers placed substantially higher at the €1.75 level.
  • Plaza Centres also closes unchanged at the €1.63 level as it trades for the first in almost three weeks. Volumes amounting to 10,355 shares traded today with further bids at the closing price whilst lowest offers still placed at the €1.65 level.

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