Daily Market Highlights (15.09.09)

  • MSE Share Index edges marginally higher to 3,026.185 points as BOV’s 1.4% rise offsets sharp declines in MIA and Simonds Farsons Cisk. Meanwhile, HSBC closes unchanged for the second successive session. Download a copy of today’s Equity Market Summary.
  • Fresh demand for BOV shares help the equity rise 1.4% to regain the €3.00 level. 7,460 shares exchanged today with best bids in the market at €2.96 whilst lowest offers placed at the €3.05 level, marginally higher than the equity’s 2009 high of €3.04.
  • Meanwhile a further 340 HSBC shares transacted at the €2.67 level, unchanged from the previous close. Best bids still placed at the €2.62 level whilst further offers outstanding at the closing price.
  • MIA declines by a further 2.3% to drop back to the €2.10 level on three trades totalling 4,700 shares. Further bids placed in the market at the €2.10 level with lowest offers considerably higher at €2.95. Equity is now trading just 5% above its 2009 low of €2.00. MIA shareholders today received the net interim dividend of €0.06 per share.
  • Simonds Farsons Cisk slumps 5.1% to the €1.595 level as it trades for the first time since 10 August. Only 264 shares change hands during this morning’s session with few other bids at the closing price whilst lowest offers now placed at the €1.68 level.
  • This morning Corinthia Finance plc announced that its €20 million bond issue was oversubscribed and subscriptions closed at 10 am as a result of the strong demand from preferred applicants as well as from new investors. The company is expected to exercise its over-allotment option and increase the total bond issue to the maximum amount of €25 million. Details of the allocation policy and the amounts received from preferred applicants as well as from new investors are expected to be published by next Wednesday 23 September.
  • Island Hotels Group Holdings plc bond offering to open this week when holders of the 6.5% CareMalta bonds will be requested to submit their application forms by Thursday 17 September. Meanwhile, the pre-placement stage in respect of the equity offering takes place on Friday 18 September while the General Public offering for both bonds and shares will take place on Tuesday 22 September. The bond offer consists of 10-year paper at a rate of 6.5% per annum while the equity offer amounts to 8,383,300 shares at a price of €1.00 per share. Full details of the offerings available here.
  • €25 million Melita Capital plc bonds issued at a coupon of 7.15% per annum with interest payable semi-annually. The preplacement stage for applications of a minimum of €10,000 will be held on Thursday 24 September while the General Offering opens on Monday 28 September. For further details on the new bond issue please click here.

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