Daily Market Highlights (16.06.10)

  • Local equity market back into negative territory as the four large caps trade lower. MSE Share Index sheds 0.2% to close at 3,423.648 points as the declines in HSBC, BOV, IHI and GO outweigh MIA’s 2.5% rise. Download a copy of today’s Equity Market Summary.
  • Today Mediterranean Investments Holding plc (MIH) announced details on a new 7-year bond issue carrying a coupon of 7.15%. The amount on offer is the equivalent of €30 million and can be subscribed to in EUR, GBP and USD. The Issuer reserves the right to increase the amount by a further €10 million equivalent in case of over-subscription. Further details and copy of the prospectus available here.
  • 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.
  • HSBC and BOV edge marginally lower to close at €2.87 and €3.279 respectively. Low volumes in both equities with a total value of €51,361 traded.
  • GO declines by a further 2.6% to close at a fresh 2010 low of €1.90 also on low volumes of 2,000 shares. Further bids unsatisfied at the closing price whilst lowest offers still pitched at the €1.95 level.
  • IHI reverses some of yesterday’s increase as its share price edges a further 0.6% lower to the €0.80 level. 10,000 shares change hands this morning with offers already placed below the last traded price whilst best bids now in the market at the €0.802 level.
  • Meanwhile fresh bids lift MIA’s share price by 2.5% to close at the €1.64 level for the first time in 2010. Over 19,100 shares trade today with few offers remaining unsatisfied at the closing price.
  • Almost 55,000 MaltaPost shares exchanged today at the 2010 high of €0.90. Lowest offers now pitched at the €0.91 level.
  • Lombard and Middlesea Insurance also closed unchanged. Lombard ends the session at €2.919 on volumes of 1,500 shares. The equity of the insurance group trades unchanged at the €0.90 level with lowest offers now at €1.00.

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