Daily Market Highlights (08.10.10)

  • Local equity market wraps up a dismal week with yet another negative performance. MSE Share Index closes 0.1% lower at 3,346.752 points – just five points above its 2010 low.  Today’s downturn was due to declines in Simonds Farsons Cisk and MIA which outweighed the increases in BOV and FIMBank. Index ends the week 1.4% lower as the declines in HSBC and IHI offset the positive performance of the other two heavyweights, BOV and GO. Download a copy of today’s Equity Market Summary.
  • BOV edged 0.3% higher to regain the €3.27 level across nine trades totalling 8,650 shares. Offers already placed marginally lower at €3.269 whilst best bids still placed at the €3.245 level. BOV’s share price up 0.9% during the last five sessions ahead of the full-year results which are generally published by the end of October.
  • Meanwhile HSBC closes unchanged at the €2.805 level on volumes of over 11,500 shares. Further bids outstanding at the last traded price whilst lowest offers now pitched at the €2.86 level. HSBC ends the week 1.8% lower.
  • Following yesterday’s 3.4% drop, Simonds Farsons Cisk share price slumps a further 5.5% this morning to drop back to the €1.635 level – just above its 2010 low. Two trades amounting to 1,099 shares transacted today with further bids in the market at the closing price and lowest offers placed at the €1.75 level. Farsons equity closed the week as the worst performer with an 8.7% drop despite last week’s positive interim results. The July 2010 interim accounts show a 19.4% increase in profitability to €2.2 million on the back of increased revenue. Further details available here.
  • Positive news for MIA also fails to support share price. The share price of the airport operator shed 1.9% this morning to drop back to the €1.50 level – unchanged from last week’s close. Three trades executed today amounting to 3,400 shares. September traffic results show a double-digit growth for the fifth consecutive month. Further details on passenger statistics available here.
  • Despite today’s 1.1% rise, FIMBank still closed the week 3% lower. 5,700 shares changed hands today at USD0.96. Details of FIMBank’s €25 million 4.25% bond issue available here. Copy of prospectus also available.
  • Earlier this week, Bay Street Finance plc announced that it will be writing to all holders of its 8% Bonds inquiring whether such investors would wish to sell their Bonds back to the Company at the price of 102%. This offer is valid for a 1 month period between 15 October 2010 and 15 November 2010. Further details on this offer is available here.

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