Daily Market Highlights (08.04.10)

  • MSE Share Index marginally recovers to close at 3,588.297 points as the 0.3% drop in HSBC is offset by the increases in the share prices of MIA, Lombard and MaltaPost. Trading activity centred around higher volumes in Simonds Farsons Cisk and MaltaPost with low activity in HSBC and BOV shares. Download a copy of today’s Equity Market Summary. Following this week’s announcement of an imminent bond issue by Simonds Farsons Cisk plc, Eden Finance plc this morning announced that it has applied to the Listing Authority to be granted approval for a €15 million bond issue guaranteed by the parent company Eden Leisure Group Ltd.
  • HSBC eases 0.3% to drop back to the €3.24 level across six trades totalling 5,150 shares. Best bids now placed at the €3.23 level whilst lowest offers now pitched at the €3.24 level. HSBC is scheduled to hold its Annual General Meeting today while the final dividend will be paid on 20 April.
  • Meanwhile BOV maintains the €3.30 level as the equity recovers from an intra-day low of €3.29. Low volumes of under 3,700 shares exchanged today with further offers remaining unsatisfied at the closing price.
  • MIA’s share price jumps 1.6% to regain the €3.15 following yesterday’s announcement revealing that passenger departures increased by 10.8% March 2010 to 101,147 passengers. MIA registered an average increase of 8.9% in passenger movements for the first three months of 2010. Further details available here. Just over 2,300 shares exchanged today with few other bids at the closing price whilst lowest offers now pitched at the €3.20 level.
  • 50,000 Simonds Farsons Cisk shares exchanged today ahead of the 31 January 2010 full-year financial results due to be released next Wednesday 14 April. Equity rises minimally to close at the €1.70 level after opening at a fresh 2010 low of €1.65. On Monday the Farsons Group 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.
  • High volumes also evident in MaltaPost today. Over 88,000 shares exchanged helping the share price rise by 2% to regain the €0.765 level. Best bids now placed at €0.76 whilst lowest offers in the market at the €0.769 level.
  • GO closes unchanged at the €2.18 level as fresh demand during the final minute of today’s session helps the equity recover from an intra-day low of €2.15. Five trades amounting to 15,000 shares transacted today with best bids still placed at €2.15 whilst just over 22,000 shares remain on offer at the closing price.
  • A single trade of 400 Lombard shares transacted at the €2.95 level representing a 0.7% increase from the previous close. The Bank is scheduled to hold its Annual General Meeting on 22 April.
  • On Tuesday, 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 remains inactive today with best bids in the market at the last closing price of US$1.07 whilst lowest offers still placed at the US$1.15 level.
  • Last Thursday IHI announced the allocation policy with respect to its recent €25 million 2017-2020 bond issue. Further details available here. Equity inactive for the third consecutive session with best bids in the market at €0.80 whilst offers already placed minimally below 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. Premier bonds expected to commence trading next week

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