Daily Market Highlights (09.10.09)

  • MSE Share Index closes today’s session 0.9% higher at 3,161.436 points as most of the six active equities trade higher including HSBC, BOV and GO. 6pm Holdings climbs 13.4% to its IPO level of GBP0.67. Index ends the week 0.9% lower as a result of the declines seen in the first four sessions of the week. Download a copy of today’s Equity Market Summary.
  • BOV edges 0.9% higher to regain the €3.36 level helping the equity close the week unchanged. Just over 6,900 shares changed hands during this morning’s session with few other offers remaining unsatisfied at the closing price and best bids remaining pitched at €3.25.
  • HSBC also in positive territory as its share price rises 1.5% to €2.74 on a single trade of 2,000 shares. Best bids of 18,000 shares now placed at €2.73 with lowest offers in the market at the €2.75 level.  Despite today’s upturn, HSBC still registers a weekly decline of 2.2%.
  • GO also fails to recover all the declines registered earlier this week. Equity recoups 2% to €1.55 but still ends the week 1.7% lower. 7,670 shares exchanged today with best bids still pitched at €1.50 and lowest offers placed marginally higher than the last trade price.
  • Single trades effected in Lombard and FIMBank. Lombard closed unchanged at the €2.50 level on 1,000 shares. Meanwhile FIMBank climbs 3.5% to regain the US$1.20 level on a miniscule trade of 350 shares after sliding to a new 2009 low of US$1.16 on Wednesday.
  • Share price of 6pm Holdings plc climbs 13.4% to GBP0.67 following this morning’s announcement. 6pm announced that a number of share trades have taken place between its executive Directors. Ivan Bartolo, Steve David Wightman and Alan West-Robinson sold 250,000 shares each to the newly appointed Director Jason Brickell at the price of GBP0.67 per share, which is equivalent to the July 2007 IPO price and 13.6% higher than the previous traded price of GBP0.59 per share. Following these transactions Ivan Bartolo, Steve David Wightman and Alan West-Robinson now hold 20% each whilst Jason Brickell owns 10% of 6pm’s total issued share capital. Shortly following this announcement, all outstanding offers in the market were snapped up in quick succession resulting in a daily gain of 13.4% on total volumes of 33,800 shares. The equity had been inactive for just over 6 months.
  • After the listing of 35,269,200 IHG Holdings shares last Wednesday, the very first trade of 7,500 shares was transacted this morning at the IPO price of €1.00. No further bids in the market with lowest offers placed at the €1.07 level.The 6.5% IHG Holdings plc 2017 – 2019 bonds were also active for the first time following listing last Wednesday. A total of €12,500 (nom) were exchanged this morning with the price rising by 75bp to 100.75%. Highest bids still placed at 100.50% whilst lowest offers at 100.95%. Meanwhile the 6.25% Corinthia Finance plc bonds listed last week still have to register their first trades with highest bids of €26,500 (nom) at 100.51% and no offers in sight.
  • 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%. Equity ends the week as the worst performer with a weekly drop of 5.2%.

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