Daily Market Highlights (18.06.2010)

  • MSE Share Index closes in negative territory for the third consecutive session this week as index heavy-weight BOV continues to edge lower whilst GO falls by 4.2%. The rest of the active equities (MIA, Medserv and MaltaPost) close unchanged. The local index closes the week minimally lower at 3,412.471 points despite the recovery in HSBC (+1.8%) and Middlesea (+5.6%). Meanwhile the recently issued 6% SFC bonds commenced trading this morning with the bonds rising by 150 basis points to 101.50%. Download a copy of today’s Equity Market Summary .
  • BOV’s share price edges a further 0.3% lower to close the week at the €3.25 level. 6,936 shares exchanged today with best bids pitched at the closing level whilst lowest offers placed at €3.27.
  • Meanwhile HSBC closes a minimal 0.03% higher at €2.871 on volumes of 7,607 shares. The equity has recovered by 1.8% during the past five sessions. Further shares are on offer at the closing price however bids are placed lower at €2.857.
  • Middlesea Insurance equity continues to rise. Share price up by a further 2.2% to close the week 5.6% higher at €0.95. The equity now stands just 5% below its 2010 high of €1.00. Further bids outstanding at the close price whilst lowest offers now pitched at €1.00.
  • 3,000 shares drag GO’s share price 4.2% lower to close the week at a new 2010 low of €1.82. The equity ranks as this week’s worst performer as its share price plunged 9%. Best bids now placed considerably lower at €1.801.
  • MIA and MaltaPost remain well supported as they both close unchanged at their 2010 highs of €1.64 and €0.90 respectively. 1,180 MIA shares were exchanged this morning with further offers available at the closing price. Today MIA announced that it has been awarded as the “Winner of the ACI Europe Best Airport Award 2010: up to 5 million passenger category”. The Award was presented to MIA for the airport’s excellence and innovative entry, reflecting the airport’s serious progress across the range of competition criteria.
  • Medserv also closes unchanged at €4.28 over a single trade of 2,750 shares. No further bids or offers are left in the market.
  • This week Mediterranean Investments Holding plc (MIH) announced details of 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.
  • Tumas Investments plc is issuing a new €20 million bond 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.
  • Applications for Izola Bank plc must be submitted by Monday morning. 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.

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