Daily Market Highlights (20.12.2010)

  • MSE Share Index jumps 2.1% to close the day at a nine-month high of 3,630.413 points as third largest cap IHI climbs 17.6%. The only other positive performer is GO whilst the two big banks HSBC and BOV and airport operator MIA close in negative territory. FIMBank unchanged at the USD0.95 level on continued high volumes. Meanwhile indicative bid prices of Malta Government Stocks revised upwards as the benchmark 10-year Eurozone yield retreats to the 3% level. Download a copy of today’s Equity Market Summary.
  • IHI’s share price jumps 17.6% to close this morning’s session at €0.87 on increased volumes amounting to 33,931 shares possibly in reaction to last Friday’s announcement. IHI explained that it has continued to work on a strategy to issue new equity to new investors with the intention of raising the number of shares held in free float by the public so as to meet regulatory requirements and to raise fresh capital to take advantage of current acquisition and development opportunities in key cities. Senior executives of IHI are currently meeting international institutional investors and high net worth investors. IHI’s objective is to conclude share participation agreements at a price superior to the nominal value of €1.00 per share. More details available here.
  • BOV’s share price falls 1.6% to close at the €3.75 level on volumes of 16,498 shares after it reached a new 2010 closing high of €3.81 last Friday. Offers are now placed below the closing price at €3.749 whilst best bids remain outstanding at €3.701.
  • Following the 5.8% rise registered last week, HSBC’s equity inches 0.3% lower to close at €3.09. 34,189 shares exchanged across 24 trades with lowest offers now at €3.125.
  • FIMBank’s share price remains unchanged at US$0.95 on high volumes totalling 144,329 shares. Best bids still placed at €0.93 whilst lowest offers in the market at the €0.975 level.
  • MIA’s equity eases minimally lower to close at €1.649 level on just 1,248 shares with more offers remaining outstanding at the last traded price. Bids are however placed significantly lower at €1.602. The airport operator recently published its November traffic results revealing yet another double digit growth in passenger numbers lifting the growth in passengers during the first eleven months of the year to 13% compared to the forecasted 8% rise. Further details available here.
  • GO share price up 1.6% to €1.93 on volumes of 11,000 shares. Best bids placed at €1.88 whilst lowest offers now placed at the €1.93 level.
  • Last week, MIDI announced that following its recent share issue, the company’s total issued share capital now amounts to €42,831,984.40 divided into 214,159,922 ordinary shares of a nominal value of €0.20 each. The Company explained that 35.32% of its total issued share capital is held in public hands. The MIDI shares were admitted to the Official List of the Malta Stock Exchange today with trading expected to commence tomorrow. Further details available here.

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