Daily Market Highlights (19.10.09)

  • MSE Share Index retreats by 0.8% to 3,155.395 points as FIMBank and IHI slump. Meanwhile HSBC and GO trade higher with BOV unchanged. Exceptionally high volumes in FIMBank whilst subdued activity elsewhere. Download a copy of today’s Equity Market Summary.
  • Over 210,000 FIMBank shares exchanged today as the share price plunges 6.9% to a fresh 4-year low of US$1.117. Best bids now placed at US$1.10 whilst lowest offers pitched at the US$1.199 level. The local and international online press reported over the weekend that FIMBank is targeting the Romanian factoring market in collaboration with Romanian company Romfactor. FIMBank’s president, Margrith Lütschg Emmenegger, descrbed this collaboration as a “trade finance alliance”.
  • IHI also declines by 3.4% as just under 17,100 shares trade at the €0.85 level. This equity had been inactive for over two weeks.
  • Following last week’s 2.2% increase, HSBC’s share price edged a further 0.4% higher to regain the €2.81 level. Just over 9,400 shares change hands today with best bids now in the market at €2.75 whilst offers already placed marginally below the closing price at the €2.799 level.
  • Meanwhile 4,651 BOV shares trade unchanged at the €3.35 level. Best bids pitched at €3.30 whilst few other offers remain unsatisfied at the last trade price. The Bank announced a short while ago that its September 2009 full-year results will be published on Friday 30 October.
  • GO’s share price continues to edge higher with a gain of 1.3% during this morning’s session. Equity closes at the €1.60 level with best bids now placed at €1.56 whilst lowest offers in the market at the €1.651 level.
  • Various corporate bonds active today with the recently listed 7.15% Melita Capital plc 2014-2016 registering its first ever trade as €7,000 (nominal) change hands 10bp higher than the par value at 100.10%. Meanwhile the 6.25% Corinthia Finance plc 2016 – 2019 bonds remain inactive with bids of €26,500 (nominal) at 100.51% whilst lowest offers of only €2,000 (nominal) at 101%.

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