Daily Market Highlights (08.06.10)

  • Negative sentiment in HSBC shares forces the MSE Share Index lower for the tenth successive session. Index eases another 0.1% to a new 2010 low of 3,446.751 points as the 1.1% drop in HSBC offsets the increases in the share prices of IHI, GO, MIA and Middlesea. Download a copy of today’s Equity Market Summary.
  • HSBC in negative territory for the eighth consecutive session. Share price slips a further 1.1% to a fresh 2010 low of €2.899 on volumes of 21,680 shares. Best bids now placed at €2.88 whilst further offers remain unsatisfied at the closing price.
  • Meanwhile BOV maintains last week’s 1.5% gain as the equity trades unchanged at the €3.30 level. Increased number of bids amounting to over 16,000 shares now placed at the €3.25 level with few other offers in the market at the closing price.
  • MIA lifted higher as investors continue to react positively towards last week’s traffic results. The airport operator last Thursday announced that it registered a 19.3% in passenger movements during the month of May when compared to the same month last year. MIA explained that this increase was mainly due to the rise in seat capacity following the introduction of additional routes especially by Ryanair which now has an aircraft based in Malta. Equity rose 1% to the €1.595 level on volumes of 6,000 shares. Further bids unsatisfied at the closing price whilst lowest offers now pitched at the €1.64 level.
  • GO recoups some of last week’s 3.4% drop as its share price climbs 1% to the €2.03 level on a miniscule trade of 500 shares. Few bids placed at €2.01 whilst further offers pitched at the closing price.
  • IHI’s share price also trade 0.6% higher to close at the €0.825 level. Three trades amounting to 10,000 shares transacted today with lowest offers now pitched at the €0.895 level.
  • Middlesea continues to build on last week’s 0.6% increase as the share price edges a further 1.2% higher to regain the €0.87 level. 10,000 shares exchanged today with best bids now placed at €0.855 whilst further offers remain outstanding at the closing price.
  • Allocation policy of the recent bond offerings by Simonds Farsons Cisk plc and Eden Finance plc expected shortly. In the meantime, Mediterranean Investments Holding plc announced that it has submitted an application for a new 7- year €30 million (subject to an over-allotment option of a further €10 million) bond issue in a combination of euro, Sterling and US Dollar. Further details on this new bond issue available here.

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