Daily Market Highlights (17.11.10)

  • Positive sentiment persists in the local equity market as MSE Share Index closes higher for the seventh successive session. MSE Share Index up another 0.6% today to 3,515.787 points mainly due to HSBC’s 2.1% rise. GO and MaltaPost also trade higher. 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.
  • Yesterday 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. Meanwhile on the secondary market, Malta Government Stock bid prices decline in line with developments across the eurozone.
  • Sustained demand for BOV shares helps the equity maintain recent gains. Over 32,700 shares exchanged today at the €3.70 level. 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.
  • Meanwhile HSBC continues to recover following the positive Interim Statement published last Friday. Share price climbs 2.1% this morning to regain the €2.97 level with lowest offers now pitched at the €3.00 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.
  • MIA publishes Interim Directors’ Statement confirming that the double digit growth in passenger numbers during the first three quarters of this year is expected to be maintained during the final three months. MIA announced that it expects the 2010 full-year results to be higher than forecasted figures and also above the €8.8 million after tax profit generated in 2009. Equity unchanged today at the €1.60 level on low volumes of just 1,000 shares with various bids remaining unsatisfied at this level.
  • MaltaPost up 1.1% to regain the €0.92 level – just €0.01 below its 2010 high. A single deal of 3,396 shares effected today with bids already placed higher at €0.926 whilst lowest offers placed at the €0.95 level.
  • GO’s share price continues to inch higher. Equity up 0.2% to the €1.899 level on volumes of 2,000 shares.
  • FIMBank maintains the US$0.95 level across two trades amounting to 5,000 shares. Further bids in the market at the closing price whilst lowest offers now placed at the US$0.96 level.

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