Daily Market Highlights (11.12.09)

  • MSE Share Index increases by a further 0.7% to a fresh 2009 high of 3,421.056 points (a level not seen since October 2008) on gains by BOV, GO and Lombard. Meanwhile HSBC trades unchanged. Index ends this week 2.4% higher led by the 9.3% jump in IHI and smaller gains in the two big banks and GO. Lombard and Crimsonwing also trade higher this week whilst only four equities registered marginal declines. Download a copy of today’s Equity Market Summary.
  • BOV’s share price jumps 2.2% to €3.78 albeit on low volumes of only 931 shares. Further offers remain unsatisfied at the closing price with various bids entering the market at the €3.71 level. BOV will be convening its 36th Annual General Meeting next Wednesday 16 December. Amongst the resolutions, shareholders will be asked to approve the final gross dividend of €0.215 per share and a 1 for 4 bonus issue. The dividend will then be distributed to all shareholders on 17 December.
  • Intensified demand for GO shares helps the equity break the €2.00 level. Equity rises 2% to a fresh 2009 high of €2.03 – a price level last recorded in October 2008. This week’s gains are possibly as a result of GO’s announcement that it has secured exclusive rights to broadcast the Italian Serie A matches for the next two football seasons which followed last week’s announcement that it secured exclusive local broadcasting rights for England’s Premier League for the three football seasons 2010/11, 2011/12 and 2012/13. This week, Forthnet (GO’s Greek investment) also secured England’s Premier League for the three football seasons 2010/11, 2011/12 and 2012/13.
  • Lombard Bank‘s equity rallies 2.5% to a fresh 2009 high of €2.87 on volumes of over 13,200 shares. Best bids placed at €2.869 with futhers shares on offer at €2.87.
  • Meanwhile HSBC closes unchanged at the €3.25 level for the second successive session. 13,400 shares change hands today with best bids still in the market at €3.211 whilst few other offers outstanding at the last trading. Equity closes the week 0.9% higher.
  • Middlesea Insurance ends a volatile week 0.6% lower at €0.63 ahead of next Monday’s closure of subscriptions for the €40 million rights issue. Further details available here.
  • MIA today published its November 2009 traffic statistics showing a 1.4% rise in passenger departures during the month of November to 94,858 passengers (November 2008: 93,549). During the first eleven months of 2009, passenger departures declined by 6.8% when compared to the same period in 2008, in line with the Company’s revised forecasts published in July. Further details on statistics available here. Equity inactive today with offers already placed lower at €2.378. MIA’s equity ends the week 0.5% lower.

Comments are closed.