Daily Market Highlights (15.04.10)

  • Negative run of the local equity market drags on as the MSE Share Index sheds a further 0.1% to close at 3,487.922 points. During this morning’s session BOV eased 0.5% lower whilst the other three active equities closed unchanged. Few trades affected as full-year results announcements by a number of companies in recent days failed to ignite investor interest mainly on lack of offers in the market. Download a copy of today’s Equity Market Summary.
  • BOV’s share price edges a further 0.5% lower to close at the €3.262 level. Low volumes of only 2,820 shares changed hands today with best bids already placed higher at €3.27 with lowest offers still pitched at the €3.30 level. The Bank is shortly expected to announce the date of the half-year results publication.
  • Meanwhile HSBC closes unchanged at the €3.09 on a miniscule trade of 150 shares. Few bids in the market at €3.07 whilst further offers remain unsatisfied at the closing price. 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.
  • All of the 3,944 Simonds Farsons Cisk shares on offer at the €1.72 level taken up today with lowest offers in the market now pitched at the €2.00 level following yesterday’s encouraging full-year results publication. The financial results for the year ended 31 January 2010 show a substantial improvement in pre-tax profits to €3.1 million from the €0.9 million registered in the year ended 31 January 2009 despite a 2% decline in turnover. The Directors recommended a final net dividend of €0.05 per share subject to approval at the next Annual General Meeting scheduled to be held on 24 June 2010. Shareholders as at close of trading on 25 May will be eligible for this dividend. Further details available here.
  • A single trade of 1,000 MIA shares transacted at the €3.10 level, unchanged from the previous close. Further bids outstanding at the last closing price whilst lowest offers still placed at the €3.20 level. The airport operator is scheduled to hold its Annual General Meeting on 10 May.
  • This morning International Hotel Investments announced its 2009 full-year results showing a 19.3% drop in turnover to €103.3 million as a consequence of the slowdown in the hospitality industry witnessed during the year which was somewhat contained through the Group’s geographical diversification of its property portfolio. This drop in revenue mainly to the Group’s pre-tax loss of €1.6 million compared to the pre-tax profit of €22.3 million registered in 2008. Similar to previous years the Directors did not recommend the payment of a dividend. The Directors stated that on the international scene there are now signs of a gradual but slow recovery of the hospitality industry which augurs well for the group’s activities. Further details available here. Equity remained inactive today with offers already placed minimally below the last closing price of €0.801.
  • The recently listed 6.8% Premier Capital bonds traded again at 101.50% with further bids remaining unsatisfied in the market at this level. Recently Tumas Investments plc, Simonds Farsons Cisk plc and Eden Finance plc also announced their intention to issue new bonds in the coming months subject to approval by the Listing Authority.

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