Daily Market Highlights (12.01.10)

  • Local equity market rally now in its eight session as the MSE Share Index rises by a further 1.8% to close above the 3,800 mark. During this morning’s session the four largest equities by market cap close in positive territory together with MIA and GlobalCapital. Meanwhile Lombard Bank and Middlesea Insurance reverse some of their recent gains. Download a copy of today’s Equity Market Summary.
  • Price hike intensifies in BOV on last day for investors to gain entitlement for the 1 for 4 bonus issue. Share price advances by 2.8% today to a fresh 18-month high of €4.10. Volumes remain high as over 26,800 shares change hands this morning. Equity will trade ex-bonus as from tomorrow while the new bonus shares will commence trading in the coming days.
  • HSBC’s share price moves higher for the seventh consecutive session. Equity rises a further 2.6% to yet another new 20-month high of €4.00. High volumes also in HSBC reaching over 46,000 shares this morning. Lowest offers now placed at the €4.05 level with further bids remaining unsatisfied at today’s closing price.
  • GO also continues to climb higher as its share price rises by another 1.4% to regain the €2.20 level on volumes of 12,350 shares.
  • MIA jumps 4% to a fresh 15-month high of €2.60 on four trades amounting to 1,700 shares. Few other bids in the market at the closing price whilst lowest offers still placed at the €2.99 level.
  • A single trade of 501 IHI shares transacted at the €0.766 level, representing a 1.4% increase over the previous close. Further bids in the market at the closing price with lowest offers still pitched at the €0.80 level.
  • Meanwhile Middlesea‘s equity declines by 3.4% as it trades at its ‘limit down’ price of €0.908 in reaction to the announcement issued yesterday evening. Middlesea reported that preliminary unaudited data for the last quarter of 2009 indicate a marked deterioration in claims at the Italian subsidiary Progress Assicurazioni which will most likely lead to a greater loss for 2009 for the Middlesea Group than the €41.8 million forecasted in the Rights Issue Prospectus. Further details available here. Just under 16,200 shares traded today with further offers of almost 29,800 shares remaining unsatisfied at the closing price.
  • Lombard Bank‘s share price edges 1.6% lower this morning to a close of €3.10 on low volumes of just over 2,400 shares. However best bids already placed higher at €3.12 with lowest offers in the market at the €3.145 level. The Bank is scheduled to publish its 2009 full-year results on 11 March 2010.
  • FIMBank holds on to yesterday’s gains as a further 2,300 shares trade at USD1.16. The trade finance specialist is due to publish its full-year results on 16 March.
  • GlobalCapital edges higher for the second consecutive session with a 1.6% rise to regain the €1.499 level. Volumes amount to 1,920 shares with best bids at €1.10 whilst lowest offers placed substantially higher at the €1.65 level.

Comments are closed.