Daily Market Highlights (16.11.10)

  • MSE Share Index in positive territory for sixth consecutive session. Index closes marginally higher today to 3,493.601 points as GO and FIMBank gain while the two large banks close the session 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.
  • Today the Treasury announced the allocation policy with respect to last week’s Malta Government Stock issues. Applicants of the 3.75% MGS 2015 will be satisfied in full while applicants in the 5.25% MGS 2030 will be allotted the first €20,000 in full plus 36% of the balance rounded up to the nearest €100. Further details available here.
  • BOV’s share price holds onto its recent gains and closes today’s session unchanged at the €3.70 level. BOV’s equity has risen by 10.4% since the publication of the full-year results on 29 October. Investors acquiring BOV shares until 7 January 2011 will be entitled to the 1 for 5 bonus issue. Details of September 2010 financial results available here.
  • HSBC also maintained the €2.91 level across four trades amounting to 3,600 shares. Substantial support emerging at the €2.90 level with lowest offers now pitched at the €2.93 level. Last Friday the Bank published its Interim Directors’ Statement explaining that the positive trend of the first half of the year was maintained during the subsequent months. Further details available here.
  • GO recovers from an intra-day low of €1.86 to close 0.3% higher than the previous close at the €1.895 level. Over 6,100 shares exchanged today with lowest offers placed at the €1.90 level. Forthnet today published its third quarter results. Although the Greek telecoms operator managed to further grow its client base and revenues, the higher increase in costs resulted in a 2.9% drop in EBITDA to €16.7 million and a deterioration in the EBITDA margin from 18.4% to 16.6%.
  • FIMBank share price lifted on increased volumes. Over 62,200 shares change hands today helping the share price close 1.1% higher at the US$0.95 level. Lowest offers now placed at the US$1.00 level.

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