Daily Market Highlights (07.10.09)

  • Following three consecutive sessions of declines, the MSE Share Index edges marginally higher during this morning session as FIMBank’s 3.3% drop is offset by gains in BOV (0.9%) and Medserv (5.5%). High volumes traded in HSBC and FIMBank but few other trades affected elsewhere. Meanwhile high trading activity in Malta Government Stocks with a value of €22.3 million in the 5.1% MGS 2021 and the 5.7% MGS 2012 (III). Download a copy of today’s Equity Market Summary.
  • BOV’s share price edges 0.9% higher to €3.36 after recovering from an intra-day low of €3.25. Just over 5,800 shares exchanged today with best bids in the market at the €3.25 level whilst further offers remain unsatisfied at the closing price.
  • Meanwhile HSBC closes unchanged at the €2.70 level after also recovering from an intra-day low of €2.649 as fresh bids enter the market mid-way during the session. Almost 35,000 shares change hands today with few other bids outstanding at the last trade price whilst lowest offers now placed at the €2.71 level.
  • FIMBank slumps 3.3% to a fresh 4-year low of US$1.16 on high volumes of over 71,700 shares. Best bids now placed at US$1.10 whilst lowest offers of 18,862 shares still pitched at the US$1.20 level.
  • Medserv jumps 5.5% to close at a new 2009 high of €3.95 on a single trade of 600 shares. No demand in sight with another 400 shares on offer at the closing price.
  • MIA yesterday published the September 2009 traffic results. The statistics show a 3.1% drop in passenger departures during the month of September to 162,103 passengers (September 2008: 167,282). During the first nine months of 2009, passenger departures declined by 8.1%, representing a decrease of 101,052 passengers. Shortly before the publication of the 2009 half-year results, MIA’s CEO Mr Julian Jaeger had revised downwards the traffic projection for 2009 from 5.5% to 6.8%. Equity remains inactive with best bids placed at the last closing price of €2.25 whilst lowest offers substantially higher at the €2.989.
  • Melita Capital announced yesterday evening its allotment policy with respect to its recent €25 million 7.15% 2014 – 2016 bond issue. The Company received a total of €25,878,300 and as a result of the marginal oversubscription it exercised part of the over-allotment option to satisfy all the demand. The Company announced that all applications received by 29 September will be met in full. Interest on these bonds started to accrue on 6 October and the bonds will shortly be admitted to the Alternative Companies List of the Malta Stock Exchange.
  • The recently issued 6.5% IHG Holdings plc 2017 – 2019 are expected to be admitted to the Official List today with trading expected to commence from tomorrow. Meanwhile the recently listed €25 million 6.25% Corinthia Finance plc 2016 – 2019 still has to register its first trade with no offers on the market and highest bids of €26,500 (nom) at 100.51%.

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