Daily Market Highlights (10.12.2010)

  • MSE Share Index in positive territory for the fifth consecutive session and closes above the 3,500-point mark. The index adds a further 0.3% this morning to close at 3,504.846 points as BOV rises by 0.6% to €3.77 – its highest close this year. GlobalCapital, GO and FIMBank also on the rise whilst HSBC remains unchanged. Download a copy of today’s Equity Market Summary.
  • Central Bank of Malta raises the indicative bid prices of Malta Government Stocks as the benchmark 10-year Eurozone yield eases back down to the 2.95% level after reaching a seven month of 3% yesterday. The bid price of the 5.25% MGS 2030 (I) was raised by 30 basis point to its recent offer price of 101.50%.
  • The share price of BOV closes higher for the fourth successive session on volumes of over 20,000 shares. This is the equity’s highest close this year. 2,000 shares remain on offer at the €3.775 level whilst bids are pitched at €3.76. During this shortened four-day week BOV’s equity gained 1.9% to a new 2010 closing high of €3.77. Investors acquiring BOV shares until 7 January 2011 will be entitled to the 1 for 5 bonus issue. BOV’s Annual General Meeting will take place on Thursday 16 December.
  • HSBC’s share price remains unchanged at €2.93 on continued low volumes of just 5,000 shares. Outstanding bids already placed at €2.95 with lowest offers at the €3.00 level.
  • GO’s share price edges 0.05% higher to close at €1.92 over 7,000 shares. On Tuesday GO announced that Forgendo increased its shareholding in Forthnet through an acquisition of a further 1,299,439 shares for a total consideration of €694,196, equivalent to €0.534 per share. Following this additional purchase of shares, Forgendo’s equity stake in Forthnet has increased from 39.88% to 40.71%. Further details available here.
  • FIMBank’s equity recovers by 2.1% to US$0.94 on volumes totalling 26,000 shares. Despite today’s increase in share price, the equity closes the week 1.1% down. This week the FIMBank Group issued a press release on its website revealing that FIMBank plc and its subsidiary London Forfaiting Company ltd (LFC) were recently declared ‘Best Factoring House’ and ‘Best Forfaiting House’ respectively by the international trade finance magazine Global Trade Review (GTR).
  • Lombard Bank reverses this week’s gains as it sheds 1.2% over 3,900 shares to close the week unchanged at €2.57. Other offers in the market at the last traded price whilst best bids now placed at the €2.561 level.
  • GlobalCapital jumps 19.1% to recover to the €1.50 level over 4,800 shares.
  • Today MIDI announced that with respect to its recent share issue which closed on Thursday 2 December it received a total of 45,147,700 ordinary shares as part of the public offer and 22,222,222 ordinary shares as part of the new issue to existing shareholders. MIDI plc explained that it will be satisfying all applications received by utilising part of its over-allotment option. Further details available here.

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