Daily Market Highlights (12.04.10)

  • MSE Share Index slips 0.6% lower to close just above the 3,500-point level as HSBC falls to a new 2010 low whilst BOV and Middlesea trade lower. Meanwhile FIMBank edges 1.9% higher whilst Medserv closed unchanged. Download a copy of today’s Equity Market Summary.
  • HSBC’s share price sheds 1.6% to close at yet another fresh 2010 low of €3.10. Over 14,400 shares changed hands this morning with few other bids remaining unsatisfied at the closing price whilst lowest offers now placed at the €3.13 level. Last week HSBC held its Annual General Meeting during which shareholders approved all the resolutions on the agenda including the final gross dividend of €0.08 which will be paid on 20 April.
  • BOV eases minimally to the €3.295 level on three trades amounting to 11,850 shares. Best bids now placed at €3.28 again whilst lowest offers pitched at the €3.30 level.
  • Middlesea Insurance plunges 6% to the €0.705 level ahead of the Group’s full-year results publication on 27 April. Over 11,000 shares exchanged today with further bids outstanding at the closing price whilst lowest offers still in the market at the €0.75 level.
  • A single trade of 500 Medserv shares were exchanged at the all-time high level of €4.30 – unchanged from the previous close. Last week Medserv announced its 2009 Preliminary Profit Statement. The results show a record pre-tax profit of €3.1 million as turnover grew by 12.6% to €17.5 million. Medserv explained that the Group companies operating from the Malta and Libyan bases were successful in servicing a number of rigs and other specialised vessels and supported various off-shore exploration operations. The Directors recommended a final net dividend of €0.135 per share (2008: €0.039) to those shareholders as at close of trading on Tuesday 20 April. With respect to the outlook for the current financial year, the Directors stated that they expect positive results should all projects in the pipeline materialise and commence according to the dates forecasted. Further details available here.
  • A single trade of 11,700 FIMBank shares was executed during this morning’s session at the US$1.09 level representing a 1.9% rise from the previous close. The trade specialist is scheduled to hold its Annual General Meeting on 6 May 2010. During the meeting shareholders will be asked to approve a number of resolutions including the payment of a final of gross dividend of US$0.018 per share. The dividend may be either taken in cash or in shares at the attribution price of US$1.00 per share.
  • Last week Simonds Farsons Cisk plc announced that it has submitted an application to the Listing Authority requesting the approval of a new 10-year €15 million unsecured and unsubordinated bond issue. The proceeds will be used to finance the redemption of the existing 6.6% Bonds and to satisfy the general requirements of the Farsons Group including the construction of a new brewhouse. Further details available here. Equity inactive today ahead of next Wednesday’s financial results publication for the year ended 31 January 2010.
  • Eden Finance plc also announced that it submitted an application to the Listing Authority requesting the approval of a new €15 million bond issue which will be guaranteed by the parent company Eden Leisure Group Ltd. Further details available here.

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