Daily Market Highlights (09.12.09)

  • MSE Share Index rises 1.3% to 3,385.182 points and almost fully recovers the 2.8% drop registered following Dubai’s announcement regarding its debt repayment difficulties. Index moved higher as the increases in heavyweights HSBC, BOV and IHI offset declines in GO and MIA. Middlesea Insurance and Crimsonwing also closed in positive territory. Download a copy of today’s Equity Market Summary.
  • BOV edges marginally higher to regain the €3.70 level on volumes of just over 9,200 shares. Best bids still in the market at the €3.60 level whilst few other offers remain unsatisfied at the closing price. Last week BOV published the agenda for the forthcoming Annual General Meeting scheduled for 16 December. Amongst the resolutions, shareholders will be asked to approve the final gross dividend of €0.215 per share and a 1 for 4 bonus issue.
  • HSBC trades higher with the share price closing at the €3.25 level on low volumes of 6,652 shares. Few bids at the last trade price whilst lowest offers now placed at the €3.26 level.
  • IHI recovers by 6.7% to regain the €0.80 as it trades for the first time in over a week. A single trade of 12,000 shares transacted this morning with best bids still at the €0.75 whilst lowest offers now placed at the €0.82 level.
  • Lombard Bank also closes minimally higher at €2.80 on miniscule volumes of 465 shares. Best bids already placed higher at the €2.83 whilst lowest offers now pitched at the €2.84 level.
  • Middlesea’s share price regains the €0.635 level on increased volumes of 28,082 shares. Best bids in the market at the rights issue price of €0.60 and further offers at the closing price. Rights Issue subscription period closes next Monday 14 December. Further details available here.
  • GO’s recovery from its recent low of €1.50 interrupted as the share price retreats by 0.5% to the €1.99 level. 7,800 shares exchanged today with best bids at €1.95 whilst further offers outstanding at the close price. Last week GO announced that it secured exclusive local broadcasting rights for England’s Premier League for the three football sessions 2010/11, 2011/12 and 2012/13.
  • A single trade of 1,300 MIA shares was executed this morning at the €2.389 level, representing a 0.5% decline over the previous close. Best bids in the market still outstanding at €2.21 whilst offers already placed lower at the €2.38 level.
  • Crimsonwing jumps 19.4% to €0.37 on a single transaction of 4,000 shares as it trades for the first time since the publication of the interim results on 24 November. The results show that despite a 4.2% decline in revenue to €6.02 million due to the further weakening of Sterling against the euro, the Crimsonwing Group generated a net profit of €151,224 which is a significant improvement over the loss of €102,365 registered in the comparative period of 2008. Crimsonwing also reported that it managed to secure a new contract with a property management company and an increase in its e-business client base. Meanwhile Crimsonwing BV suffered a slow down in project work from one of its clients which is subject to a potential take-over by a major vendor. The Directors of Crimsonwing concluded that the Group is in an excellent position to take advantage of the anticipated second half recovery in the markets leading to further improvement in the financial performance. Further details of results available here.
  • The Mizzi Organisation Finance plc €30 million bond issue is shortly expected to commence trading. Further details on the allotment policy available here. Meanwhile the outstanding balance of €3.7 million 6.7% Mizzi Organisation Finance plc 2009 – 2012 bonds resumed trading on Monday.

Comments are closed.