Daily Market Highlights (18.12.09)

  • We would like to inform our clients that our offices will be closed this afternoon.
  • MSE Share Index closes today’s session marginally higher at 3,430.147 points. During the past five trading sessions, the local equity market increased by 0.3% touching a 2009 high of 3,437.639 points on Tuesday. Various equities active with smaller companies outperforming the larger caps. Local bond market also in positive territory on sustained investor demand. Download a copy of today’s Equity Market Summary.
  • BOV rises 0.3% to regain the €3.78 level and end the week unchanged. Low trading activity persists in BOV shares with only 6,635 shares changing hands today. On Wednesday the Bank held its 36th Annual General Meeting during which shareholders approved all resolutions including the final gross dividend of €0.215 per share and a 1 for 4 bonus issue. Shareholders as at close of trading on 12 January 2010 will be entitled to the aforementioned bonus issue while the final dividend has been distributed to all shareholders yesterday.
  • Meanwhile HSBC again moves lower to the €3.23 level, representing a 0.6% decline from the previous close. Best bids now at €3.12 whilst other offers outstanding at the last closing price.
  • Medserv in positive territory for the second consecutive session. Equity closes today’s session 0.5% higher at a new all-time high of €4.20.
  • Middlesea Insurance continues to recover from recent lows as it trades limit up for the second consecutive session and closes the week as the best performing equity with an increase of 12.9%. Share price edges a further 6.9% higher this morning to regain the €0.711 level. Last Wednesday, the insurance group announced the results of the €40.2 million rights issue. The 3 largest shareholders took up their entitlement whilst the remaining shareholders owning circa 37.5% only took up a small part of their entitlement. As a result the shareholding of BOV and Mapfre, as underwriters of the rights issue, increased to 30.8% each. The 67 million new shares are expected to be listed on 28 December with trading commencing the following day. Further details available here.
  • GO continues to reach new 2009 highs on positive investor sentiment following the recent announcements regarding local football broadcasting rights. Share price rises 1.2% to €2.085 on 4,100 shares. GO announced on 1 December that it has secured exclusive local broadcasting rights for England’s Premier League for the three football seasons 2010/11, 2011/12 and 2012/13. This was shortly followed by a second announcement that GO will also have exclusive broadcasting rights for the Italian Serie A matches of the next two football seasons.
  • Lombard also reaches a new 2009 high of €2.96 before easing to a close of €2.95, representing a 2.1% increase over the previous close. 8,000 shares change hands this morning with best bids still at €2.88 whilst lowest offers placed substantially higher at the €3.17 level.
  • Meanwhile MIA slips 2.1% to drop to €2.35 on a single trade of 2,000 shares. However best bids already placed marginally higher than the closing price. Today Ryanair announced that as from 30 March it will start operating a new route twice a week to Bournemouth.
  • RS2 Software sheds 7.2% to drop to a fresh all-time low of €0.557 as the equity trades for the first time in almost a month. A single trade of 2,100 shares transacted this morning with best bids now at €0.50 whilst further offers in the market at the closing price.
  • GlobalCapital’s share price increases by 4.4% to €1.20 on low volumes of just under 3,100 shares.

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