Daily Market Highlights (10.09.09)

  • MSE Share Index edges marginally higher to 3,023.152 points as BOV share price closes on the rise. Activity across the equity market remains weak as investors focus on the 3 new corporate bond issue and the and equity offer by Island Hotels Group. Download a copy of today’s Equity Market Summary.
  • BOV’s share price edges 0.4% higher to €2.96 on low volumes of 2,666 shares. The equity stands 2.6% below its 2009-high of €3.04 recorded on 31 August. Further bids remain unsatisfied at today’s closing price with offers of 5,244 shares in the market at €2.99
  • 4,060 HSBC shares exchanged at an unchanged price of €2.66. The equity is currently trading 11% below this year’s high of €3.00 which was last reached on 30 July. Nevertheless the price is still 29% above its 2009 low of €2.060. Bids of a further 2,445 pitched at the closing price with lowest offers of 3,503 shares at €2.70.
  • On 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.

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