Daily Market Highlights (18.11.10)

  • Local equity market in positive territory for the eight consecutive session. MSE Share Index up another 0.2% this morning to 3,521.655 points as the increases in HSBC, GO, Middlesea and MaltaPost offset the declines in Lombard and FIMBank. Meanwhile BOV and Farsons 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.
  • Earlier this week, the Treasury announced the allocation policy with respect to the recent 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, further declines in the Malta Government Stock bid prices as the 10-year Eurozone yield reached the 2.68% level.
  • BOV remains well supported at €3.70 as over 38,000 shares are exchanged at this 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.
  • HSBC’s share price recovers by another 0.9% to regain the €2.998 level on volumes of 11,561 shares. Other offers outstanding at the closing price whilst best bids now placed at the €2.98 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.
  • Middlesea also edged 1% higher to recoup the €1.03 level on low volumes of 5,500 shares. The Insurance Group this afternoon published its Interim Directors’ Statement revealing that the third quarter performance was in line with that reported at the half year stage when the Group registered a pre-tax profit of €3.4 million. Further details available here.
  • GO’s share price crawls higher for the fifth successive session to regain the €1.90 level on volumes of 6,100 shares. Further offers unsatisfied at the last traded price whilst best bids now placed at the €1.85 level.
  • MaltaPost share price approaches its 2010 high of €0.93. A single trade of 7,000 shares effected at €0.927, representing an increase of 0.8% from its previous close. Bids already placed higher at the €0.93 level ahead of the September 2010 full-year results to be published in the coming weeks.

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