Daily Market Highlights (15.11.10)

  • Fifth consecutive positive day for the local equity market on further gains in the two large banks. MSE Share Index up 0.7% today to 3,491.670 points as HSBC, BOV, GO, Middlesea and Plaza Centres all trade higher. Meanwhile four other active equities, including IHI, close unchanged. Download a copy of today’s Equity Market Summary.
  • Pre-placement of MIDI plc’s share issue to be held on Friday 26 November. The Company is issuing 44,444,444 shares at a price of €0.45 per share with an over-allotment option of up to a further 22,222,222 shares. Further details available here.
  • Last Friday the Treasury announced that it received 4,935 applications from members of the public amounting to over €152.6 million for the two stocks on offer. Since the amount on offer was of €100 million, all tenders were rejected. The Treasury is expected to publish the allocation policy to be adopted by close of business today.
  • Following the 9.3% rise in BOV’s equity across the past two weeks, the Bank’s equity edged a further 1.1% higher this morning to regain the €3.70 level on volumes of over 37,000 shares. Investors acquiring BOV shares until 7 January 2011 will still be entitled to the 1 for 5 bonus issue. Details of September 2010 financial results available here.
  • Renewed demand for HSBC shares following last Friday’s publication of the Interim Directors’ Statement. The Directors explained that the positive trend of the first half of the year was maintained during the subsequent months. Further details available here. Share price up 1% this morning to the €2.91 level across sixteen trades amounting to over 22,000 shares. Lowest offers now placed at the €3.00 level.
  • Middlesea Insurance also in positive territory as its share price closed above the €1.00 level for the first time since 9 September. Equity up 2% to €1.02 on low volumes of 791 shares. Best bids totalling 19,000 shares still placed at €1.00 with lowest offers now pitched at the €1.05 level.
  • A single trade of 1,000 Plaza Centres’ shares transacted at a new 2010 high of €1.72 representing a 1.2% rise from the previous close. No offers in sight with best bids placed at the €1.52 level.
  • IHI unchanged at the €0.77 level on increased volumes of 55,000 shares.
  • FIMBank also unchanged at the US$0.94 level on a single deal of 1,665 shares. This morning the Bank issued its Interim Directors’ Statement claiming that the Group’s performance for the second half of 2010 continued to show the positive trend experienced during the first half when profits after tax increased by 16.4% to USD3.39 million. Further details available here.

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