Daily Market Highlights (14.06.10)

  • Local equity market in positive territory for the first time in fourteen sessions. MSE Share Index climbs 0.3% to 3,426.235 points as the recoveries in HSBC and BOV offset the declines in IHI, GO and Lombard. Meanwhile FIMBank and Middlesea close unchanged. Download a copy of today’s Equity Market Summary.
  • Last week Tumas Investments plc issued a Formal Notice with respect to a new €20 million bond issue at a coupon of 6.2% per annum. The bonds have a final maturity date of 9 July 2020 but may be redeemed early on any date between 9 July 2017 and 8 July 2020. The Issuer reserves the right to increase the amount up to a further €5 million in the event of over-subscription. Further details available here.
  • Also last week Izola Bank plc announced the issue of €7 million 5.35% Secured Notes maturing in 2015. The Issuer reserves the right to increase the amount on offer by a further €2 million in case of over-subscription. This offering is the first tranche from a Debt Issuance Programme amounting to a total of €27 million. Further details available here.
  • Following declines in each of the past eleven consecutive session, HSBC’s share price climbs 2.1% to regain the €2.88 level. 8,100 shares trade today with further offers remaining unsatisfied at the closing price and best bids now placed at the €2.85 level.
  • Following last week’s 0.9% drop, BOV regains the €3.28 duirng this morning’s session representing a 0.3% increase over the previous close. Just under 4,000 shares change hands today with other offers outstanding at the last traded price whilst best bids pitched at the €3.25 level.
  • Meanwhile Lombard reverses part of last Friday’s sharp upturn as its share price slips 2.1% to the €2.919 level. Over 6,700 change hands today with best bids still in the market at €2.55 whilst few other offers still outstanding at the closing price.
  • GO’s share price succumbs to further selling pressure to close below the €2.00 level for the first time this year. Equity sheds another 2.5% to close at its 2010 low of €1.95 on a single trade of 3,000 shares.
  • IHI also edges 0.6% lower to close at the €0.82 level across four trades amounting to 12,000 shares. Best bids now placed at €0.802 whilst lowest offers now pitched at the €0.825 level.
  • High volumes traded in FIMBank. The trade specialist eases to a fresh 48-month low of US$1.00 before recovering to close unchanged at the US$1.01 level. Almost 100,000 shares trade today with further bids unsatisfied at the closing price.
  • Middlesea‘s share price uptrun sustained as a further 5,500 shares trade at the €0.90 level. Further bids outstanding at the last traded price with lowest offers now pitched at the €1.00 level.
  • Last week, Mediterranean Investments Holding plc announced that it has submitted an application for a new 7-year bond issue in a combination of euro, Sterling and US Dollar. The equivalent of €30 million will be on offer subject to an over-allotment option of a further €10 million. Further details on this new bond issue available here.

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