Daily Market Highlights (11.09.09)

  • MSE Share Index edges 0.3% higher to 3,032.468 points as BOV and HSBC recover some of the recent drops in the earlier part of the week. Meanwhile MaltaPost trades lower with GO and Lombard closing unchanged. Despite the recovery during the last two sessions, the Index closes this four-day week 0.7% lower characterised by low volumes as investors shift focus on the new bond issues. Download a copy of today’s Equity Market Summary.
  • BOV closes today’s session 1% higher to climb back to the €2.99 and close the week unchanged. 3,834 shares exchanged today with best bids still in the market at €2.96 whilst further offers remain unchanged at the closing price.
  • HSBC also in positive territory as the share price edges 0.4% higher this morning to close at the €2.67 level. Volumes remain low with only 5,945 shares traded today. Equity ends the week as the sole positive performer with a weekly rise of 0.8%. HSBC’s share price is still 11% below its 2009 high of €3.00.
  • Meanwhile MaltaPost eases by 1.4% during this morning’s session to close at the €0.69 level on a single trade of 2,198 shares.
  • Single trades transacted in Lombard and GO with both equities closing unchanged. 3,000 Lombard shares exchanged at the €2.549 level to close the week marginally lower. Meanwhile 1,000 GO shares trade at the €1.70 level to close the week 5% lower as investors continued to react to the net loss of €5.4 million registered by the telecoms Group during the first half of 2009.
  • 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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