Daily Market Highlights (07.01.10)

  • Local market rallies for the fifth consecutive session. The MSE Share Index rises a further 1.7% to 3,566.572 points as eight out of the ten active equities close higher including a 6.1% rise in HSBC and a 5.7% jump in Middlesea. Meanwhile IHI sheds 5.6% whilst Lombard closes unchanged. Download a copy of today’s Equity Market Summary.
  • In the corporate bond market the 4.6% HSBC 2017 gained 21 basis points to close at 102.21% whilst the 7.15% Melita Capital plc 2014 – 2016 eased by 10 basis points to drop back to its par value. All other active bonds remained unchanged.
  • Demand for HSBC shares intensifies with the equity touching its ‘limit-up’ level ahead of the 2009 full-year results which are normally published by the end of February. Share price jumps 6.1% to close at the €3.50 level after easing its new 18-month high of €3.509. Over 17,300 shares change hands today with best bids already placed higher at €3.509 whilst lowest offers now pitched at the €3.55 level.
  • BOV also rises by 0.5% to close at the €3.949 level after dropping back also from a new 18-month high of €3.97. Low volumes of just below 2,800 shares change hand this morning. Shareholders as at close of trading on 12 January 2010 will be entitled to the 1 for 4 bonus issue.
  • Middlesea in positive territory for the third consecutive session as the share price jumps by a further 5.7% to €0.925, representing a gain of over 50% from the recent rights issue price of €0.60. Only 3,500 shares trade this morning with bids already placed at €0.927 and lowest offers now at the €0.94 level. Following the completion of the rights issue exercise, Middlesea recently announced a replacement for the outgoing Chairman and new senior management appointments.
  • GlobalCapital trades limit up to €1.444 on two trades amounting to 2,500 shares. Best bids in the market at €1.28 whilst few offers remain unsatisfied at the closing price.
  • FIMBank rises 1.8% to regain the US$1.12 level on low volumes of 1,900 shares. Yesterday the trade specialist announced that its Board of Directors will be meeting on 16 March 2010 to consider and approve the financial statements of the group for the financial year ended 31 December 2009 and also consider the declaration of a dividend to be recommended at the forthcoming Annual General Meeting.
  • GO edges higher for the first time in seven sessions on increased volumes of over 41,000 shares. Equity rises marginally to €2.11 after recovering from an intra-day low of €2.05. Best bids now on the market at €2.05 with lowest offers pitched at the €2.125 level.
  • MIA and MaltaPost also trade higher. A single trade of 1,400 MIA shares lifts the equity 2.1% higher to €2.45 and is now marginally below its 2009 high of €2.50. The postal operator increases by 2.7% to regain the €0.719 level ahead of the full-year results publication on 21 January 2010.
  • Meanwhile IHI sheds 5.6% to drop back to the €0.755 level on increased volumes of over 10,100 shares. Best bids of 4,891 shares already placed higher at €0.765 whilst lowest offers still in the market at the €0.80 level.
  • Lombard closes unchanged at the €3.05 level on three trades amounting to 3,000 shares. The Bank is scheduled to publish its full-year results on 11 March 2010.

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