Daily Market Highlights (07.04.10)

  • Local equity market in negative territory for the second consecutive session. MSE Share Index eases a further 0.1% to close at 3,587.208 points as BOV’s 0.9% decline outweighs Middlesea’s 2.7% rise. Meanwhile HSBC and MaltaPost close unchanged. Download a copy of today’s Equity Market Summary.
  • BOV’s share price slides 0.9% lower to drop back to the €3.30 level. Volumes of over 12,400 shares exchanged today with few other bids remaining unsatisfied at the closing price whilst lowest offers now pitched at the €3.325 level.
  • Meanwhile HSBC again closes unchanged at the €3.248 level on volumes of 7,390 shares across 5 trades. HSBC is scheduled to hold its Annual General Meeting tomorrow while the final dividend will be paid on 20 April.
  • Middlesea Insurance recovers yesterday’s 2.7% drop as the equity regains the €0.75 level during this morning’s session. A single trade of 200 shares transacted today with best bids still placed at €0.73 whilst further offers remain unsatisfied at the last traded price. Last week the insurance company announced that on 30 March the Italian Insurance Regulator (ISVAP) placed Progress Assicurazioni SpA in Compulsory Administrative Liquidation following the statutory 60 days of provisional administration declared on 11 February 2010.
  • A single trade of 13,200 MaltaPost shares transacted this morning at the €0.75 level, unchanged from the previous close. Best bids still placed at the €0.70 whilst lowest offers in the market at the €0.76 level.
  • MIA this morning published the March 2010 traffic results. The statistics show a 10.8% rise in passenger departures during the month of March to 101,147 passengers. Following the growth registered during March, MIA registered an average increase of 8.9% for the first three months of 2010. Further details available here. Equity inactive today with best bids at €3.001 whilst lowest offers placed at the €3.15 level compared to the last closing price of €3.10.
  • Yesterday FIMBank announced that following its recent recommendation to approve a dividend of US$0.01155640 per share at the next Annual General Meeting due to take place on 6 May 2010, those shareholders who are opting to take up the dividend in new shares instead of cash are entitled to subscribe to the shares at an attribution price of US$1.00. Equity also inactive today with no bids in the market whilst lowest offers placed 7.5% higher than the last closing price of US$1.07.
  • On Monday Simonds Farsons Cisk announced that it has submitted an application to the Listing Authority requesting the approval of a new 10-year €15 million unsecured and unsubordinated bond issue. The proceeds will be used to finance the redemption of the existing 6.6% Bonds and to satisfy the general requirements of the Farsons Group including the construction of a new brewhouse. Further details available here. Simonds Farsons Cisk is expected to publish its financial results for the year ended 31 January 2010 on 14 April.
  • Last Thursday IHI announced the allocation policy with respect to its recent €25 million 2017-2020 bond issue. Further details available here. Equity remains inactive today as best bids in the market at €0.80 whilst lowest offers outstanding at the last closing price of €0.85.
  • Premier Capital plc also announced the allocation policy with respect to its recent bond issue last Thursday. Further details available here.

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