Daily Market Highlights (07.09.09)

  • MSE Share Index declines by 0.373% to 3,042.899 points as GO plunges 5.03% to €1.70 whilst BOV and IHI also close in negative territory. HSBC is the only positive performer this morning as it gained 1.85% to €2.699. Download a copy of the latest Equity Market Summary.
  • BOV’s share price edges 0.67% lower to close today’s session at €2.97 over 5,105 shares. 5,000 shares remain on offer at €2.99 whilst lowest bids stand at €2.85.
  • 5,850 HSBC shares help push the equity 1.85% higher to €2.699 on 9 trades. Offers of 1,230 shares remain unsatisfied in the market at the closing price whilst 1,218 bids are pitched at €2.617.
  • GO’s equity plunges by 5% over 11,550 shares as investors are still reacting to the negative 2009 half-year results which were issued last week. During the first half of the year the Company registered a 4.8% decline in revenues over the same period last year. After deducting net finance costs together with the share of loss in Forgendo Limited (€3.73 million) and taxation, GO registered a net loss of €5.4 million compared to the net loss of €4.4 million incurred in the first half of 2008. Last Friday, the Greek telecoms company Forthnet announced its results for the three months ended 30 June 2009. The results showed an improvement in revenue and Group EBITDA with the EBITDA margin reaching 20.3%. Copy of GO’s half-year results available here.
  • Similarly IHI’s share price also falls by 2.44% to €0.80 over a single 1,260-share transaction. In the 2009 interim report the hotel operator announced that turnover declined by 20% to €51.4 million as the hospital industry suffered from the effects of the global economic recession causing a sharp fall in occupancy levels and increasing pressure on room rates. Further bids remain at the closing prices whilst lowest offers are placed at €0.88.
  • This morning Melita Capital plc announced a €25 million bond issue at a coupon of 7.15%. For further details on the new bond issue please click here.
  • Last week Island Hotels Group Holdings plc launched a bond and equity offering as part of its plans to list on the Malta Stock Exchange. The bond offer consists of 10-year paper at a rate of 6.5% per annum while the equity offer amounts to 8,383,300 shares at a price of €1.00 per share. Full details of the offerings available here.
  • Corinthia Finance also announced a €20 million bond issue last week at a coupon of 6.25% per annum. Further details available here.

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