Daily Market Highlights (10.06.2010)

  • Local equity market once again in negative territory as the two index heavyweights BOV and HSBC move lower. Crimsonwing plunges by 7% and Lombard Bank drops 2.3%. The MSE Share Index sheds 0.31% to close at 3,422.158 points. Today’s only positive equities are Middlesea (+5%) and MIA (+2.5%). Download a copy of today’s Equity Market Summary .
  • Tumas Investments plc issues Formal Notice with respect to a new €20 million bond issue at a coupon of 6.2% per annum. The bonds have a final maturity date of 9 July 2020 but may be redeemed early on any date between 9 July 2017 and 8 July 2020. The Issuer reserves the right to increase the amount up to a further €5 million in the event of over-subscription. Further details available here.
  • HSBC’s equity falls by 1.2% to close at €2.845 after touching a new 2010 low of €2.82 this morning. At the closing price, the equity stands 30% below its 2010 high price level of €4.05 recorded in March. Outstanding offers are placed at the closing price with highest bids at €2.82.
  • BOV also closes lower. Share price drops 0.4% to close at €3.285 on volumes of 10,200 shares. Best bids now placed at the €3.27 level whilst 500 shares remain on offer at the closing price. Negative sentiment towards banking sector effects
  • Lombard’s equity as it sheds 2.3% to close today’s session at €2.80 over a single 285-share transaction. 1,255 shares remain on offer at the closing price.
  • Middlesea’s equity is today’s top performer as it gains 5% to close at €0.898 over 4,518 shares. Lowest offers are now placed in the market at the €0.90 level. The insurance company held its Annual General Meeting yesterday afternoon and all resolutions on the agenda were approved.
  • MIA reverses yesterday’s declines as it gains 2.5% to close at €1.60. 6,470 shares exchanged across 3 trades with offers still available at the closing level. Last week the airport operator published its May 2010 traffic statistics which revealed 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.
  • Crimsonwing plunges by 7% to close at its limit-down price of €0.419 on 11,500 shares. Towards the end of today’s trading session the IT company announced that it has been awarded a three year contract by one its existing clients for the provision of IT professional services and solutions having an estimated value of €3 million per year. Lowest offers now placed in the market at €0.44.
  • Meanwhile Island Hotels Group trades for the first time since 17 May. Share price to edge 0.2% lower to close at a new 2010 low of €0.998.
  • Yesterday afternoon Simonds Farsons Cisk plc announced its allocation policy with respect to its recent offering of €15 million 6% Bonds maturing between 2017 and 2020. Further details available here. Eden Finance plc also announced its allocation policy with respect to the recent bond offering of €15 million 6.6% Bonds maturing between 2017 and 2020. Further details available here.
  • Earlier this week, Mediterranean Investments Holding plc announced that it has submitted an application for a new 7- year bond issue in a combination of euro, Sterling and US Dollar. The equivalent of €30 million will be on offer subject to an over-allotment option of a further €10 million. Further details on this new bond issue available here.

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