Daily Market Highlights (09.06.2010)

  • Local equity market in negative territory for the eleventh consecutive session as most active equities close lower whilst FIMBank and GO remain unchanged. The MSE Share Index edged 0.41% lower to 3,432.618 points as HSBC touches a new 2010 low. Download a copy of today’s Equity Market Summary.
  • HSBC slips 0.7% to €2.879 as 6,200 shares are exchanged over 10 trades. The Bank’s equity touched a new 2010 low of €2.87 before marginally recovering to close at €2.879. Lowest offers are placed at the closing price with bids at €2.86.
  • Negative sentiment towards the banking sector spills over to BOV as the equity edges 0.06% lower to €3.298 over 10,423 shares. Best bids now placed at the €3.25 level whilst 3,000 shares remain on offer at €3.299.
  • Middlesea Insurance also closes in the red after 10,977 shares drag the equity 1.7% lower to close at €0.855. The local insurance company held its Annual General Meeting this afternoon and all resolutions on the agenda were approved.
  • MIA reverses its recent gains as it falls 2.1% to close at €1.561 on final insignificant volume. Equity touched a new 2010 high of €1.64 however some selling pressure forced the share price down despite the positive May traffic statistics which were issued last week revealing an increase of 19.3% in passenger movements during the month 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.
  • Plaza plunges by 7% and closes at a new 2010 low of €1.516 over 14,000 shares. Whilst offers are placed at the €1.64 level, bids are pitched significantly lower at €1.50.
  • Medserv’s equity sheds 0.5% to €4.28 as 5,000 shares are exchanged over 2 transactions. 7,320 shares are now on offer in the market at €4.30 however no bids appeared by market close.
  • FIMBank shares trade unchanged at the 2010 low of €1.01 after 14,325 shares were exchanged across 4 transactions. 2,000 shares remain on offer at the closing price whilst highest bids are placed at €1.001.
  • GO closes unchanged at €2.03 over a single-1,000 share transaction. Few bids placed at €2.01 whilst further offers are pitched 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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