Daily Market Highlights (08.10.09)

  • MSE Share Index edges a further 0.1% lower to 3,131.782 points as BOV’s 0.9% decline offsets GO’s 1.3% rise. Meanwhile HSBC, MIA and RS2 Software trade unchanged. Subdued activity persists in the local equity market, except in RS2 Software where over 50,000 shares changed hands today. Download a copy of today’s Equity Market Summary.
  • This afternoon the European Central Bank announced that it left its interest rates unchanged at the record low of 1% as the Bank remains cautious on the strength of Europe’s recovery. In fact, ECB President Jean-Claude Trichet has warned of a “bumpy” ride ahead and stated that the economic outlook is still uncertain. Earlier the Bank of England also kept its benchmark interest rate at a low of 0.5% and announced that it will spend the remainder of its £175 billion bond repurchase program to further help Britain’s economy recovery.
  • BOV reverses yesterday’s rise with an equivalent 0.9% decline to €3.33 during this morning’s session. Almost 9,200 shares exchanged today with best bids in the market still at the €3.25 level whilst further offers remain unsatisfied at the closing price.
  • A further 5,000 HSBC shares trade unchanged at the €2.70 level, unchanged from the previous close. Sizeable bids amounting to 18,000 shares enter the market at the €2.71 level but lowest offers now placed at €2.74.
  • GO rises 1.3% to €1.52 as the 9,955 shares on offer at this level were satisfied. Best bids in the market at €1.50 with lowest offers now placed at €1.651.
  • RS2 Software trades unchanged at the €0.62 level on high volumes of 54,027 shares. Few other bids at the closing price whilst lowest offers now placed at the €0.65 level.
  • On Tuesday, MIA published the September 2009 traffic results showing 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%. A single trade of just 328 shares transacted at an unchanged level of €2.25 during this morning’s session. Further bids outstanding at this level whilst lowest offers still pitched substantially higher at the €2.989 level.
  • No trades effected in the newly-listed shares of Island Hotels Group Holdings plc. Following the recent share offering, the entire issued share capital of the company totalling 35,269,200 shares were admitted to the Official List. However no bids placed in the market with offers of 7,500 shares at €1.15.
  • Also no trades were effected in the 6.5% IHG Holdings plc 2017 – 2019 bonds which were also admitted to the Official List yesterday. Highest bids placed at 100.50% with lowest offers at 102%. Moreover the 6.25% Corinthia Finance plc bonds listed last week also still have to register their first trades with highest bids of €26,500 (nom) at 100.51% and no offers in sight.

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