Daily Market Highlights (09.09.09)

  • MSE Share Index declines by a further 0.72% to 3,020.944 points on losses in 4 of the 6 active equities today led by a 6.2% decline in the share price of Middlesea Insurance to a multi-year low of €1.65. Download a copy of today’s Equity Market Summary.
  • BOV’s share price edges 0.7% lower to €2.949 on minimal volumes of only 550 shares. A further 515 shares remain on offer at €2.95 with highest bids placed at €2.85.
  • HSBC’s share price drops by 1.4% to €2.66 as 6,418 shares are exchanged this morning. Bids of a further 1,060 pitched at the closing price with lowest offers of 2,500 shares at €2.68.
  • Middlesea’s share price tumbles 6.2% to a new multi-year low of €1.65. Only 194 shares trade today with few bidders in sight following the publication of the 2009 interim results showing a loss of €17.2 million. This loss was mainly caused by the continued material impact from the Group’s Italian Subsidiary, Progress Assicurazioni Spa. Further offers placed in the market at €1.64 level but no bids in the market.
  • Lombard’s equity edges minimally lower to €2.549 on a single trade of 1,000 shares.
  • IHI’s share price unchanged at €0.80 as a further 14,000 shares are exchanged across 4 trades. In the 2009 interim report the hotel operator announced that turnover declined by 20% to €51.4 million as the hospital industry suffered from the effects of the global economic recession causing a sharp fall in occupancy levels and increasing pressure on room rates.
  • A single trade of 1,250 Santumas Shareholdings shares transacted at an unchanged level of €3.04. This represents a 16% discount to the latest NAV of €3.629 per share.
  • Malta International Airport published the August 2009 traffic results this morning. The statistics show a 3.9% decrease in passenger departures during the month of August to 198,683 passengers (August 2008: 206,719). During the first eight months of 2009, passenger departures declined by 8.9%, representing a decrease of 95,873 passengers. The equity, which last traded at the €2.20 level, has not seen any activity so far this month. 700 shares are on offer at €2.25 whilst highest bids stand significantly lower at €2.11.
  • Last Monday Melita Capital plc announced a €25 million bond issue at a coupon of 7.15%. For further details on the new bond issue please click here.
  • Last week Island Hotels Group Holdings plc launched a bond and equity offering as part of its plans to list on the Malta Stock Exchange. The bond offer consists of 10-year paper at a rate of 6.5% per annum while the equity offer amounts to 8,383,300 shares at a price of €1.00 per share. Full details of the offerings available here.
  • Corinthia Finance also announced a €20 million bond issue last week at a coupon of 6.25% per annum. Further details available here.

Comments are closed.