Daily Market Highlights (11.11.10)

  • Local equity market in positive territory for the third successive session. MSE Share Index up 0.1% today as HSBC’s 0.6% rise offsets the declines in BOV and FIMBank. Meanwhile IHI and Plaza close unchanged. Download a copy of today’s Equity Market Summary.
  • This afternoon the Treasury announced that the auction for the two new Malta Government Stocks will not be held as the value of the applications received from the members of the General Public already exceed the €100 million on offer. Full details on the amounts received and the allocation policy have yet to be announced.
  • Last week MIDI plc announced that it has been granted approval by the Listing Authority of the MFSA to issue 44,444,444 shares at a price of €0.45 per share with an over-allotment option of up to a further 22,222,222 shares. Further details available here.
  • BOV share price fails to hold onto its intra-day high of €3.649. Share price closes marginally lower at the €3.62 level. Over 20,600 shares change hands today with few other bids in the market at the closing price whilst lowest offers still pitched at the €3.63 level. Although BOV shares are no longer trading with the entitlement to the final gross dividend, investors acquiring BOV shares until 7 January 2011 will still be entitled to the 1 for 5 bonus issue. Details of September 2010 financial results available here.
  • Meanwhile HSBC up 0.6% to €2.89 across ten trades amounting to 10,975 shares. Further offers unsatisfied at the closing price whilst best bids now placed at the €2.88 level.
  • FIMBank reverses some of yesterday’s 2.2% increase as its share price eased 1.1% back to US$0.94 on a single trade of 500 shares. Further offers outstanding at the last traded price whilst best bids still placed at the US$0.90 level.
  • Further trades in IHI at the €0.77 level totalling 23,466 shares. Best bids still placed at €0.76 whilst lowest offers pitched at the €0.80 level. Plaza Centres also unchanged at the €1.70 level on a single trade of 10,000 shares.
  • Medserv today issued its Interim Directors’ Statement revealing that the Group registered a subdued financial performance during the first three quarters of 2010 due to postponement of works. However Medserv stated that works are expected to kick-off in 2011 and as a result the Group has seen an increase in its order book. Further details available here.
  • Crimsonwing yesterday issued a press release announcing that it has been awarded the Gold Competency in Enterprise Resource Planning and Software Development under the new Microsoft Partner Network. Further details available here.

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