Daily Market Highlights (21.12.09)

  • MSE Share Index closes today’s session 0.33% higher at a new 14-month high of 3,441.358 points as Middlesea and MaltaPost post significant gains. BOV and GO also in positive territory with 4 other equities unchanged. Download a copy of today’s Equity Market Summary.
  • BOV edges 0.5% higher to regain the €3.80 level on increasing volumes amounting to 14,701 shares. Further offers totaling 28,357 shares available at this level. Last week the Bank held its 36th Annual General Meeting during which shareholders approved all resolutions including a 1 for 4 bonus issue. Shareholders as at close of trading on 12 January 2010 will be entitled to this bonus issue.
  • HSBC closes unchanged at €3.23 as 9,140 shares are exchanged across 7 trades. Further offers remain outstanding at this level with best bids at €3.14.
  • Middlesea Insurance continues to rally following last week’s rights issue. Equity jumps 5.5% to close at €0.75 on total activity of 13,457 shares. Middlesea’s share price has climbed by 25% from its rights issue price. Offers now placed at the €0.79 with highest bids pitched at €0.731. Last week 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.
  • MaltaPost’s share price advances by 4.4% to €0.72 on volume totaling 10,600 shares. The share price of the postal operator has recently recovered by 20% from its 2009 low of €0.60. The company is due to report on its September 2009 full-year results on 21 January.
  • Positive investor sentiment persists in GO helping share price add a further 0.72% to €2.10 – a level last recorded in October 2008. GO’s CEO Mr David Kay explained in an interview published in the local media yesterday that following the acquisition of exclusive local broadcasting rights for England’s Premier League and the Italian Serie A, the company expects a big increase in its TV subscriber base.
  • Lombard Bank holds on to its 2009 high of €2.95 as a further 1,000 shares trade today. The Bank announced this morning that its Board of Directors is scheduled to meet on 11 March 2010 to approve the Group’s 2009 full-year results and to declare a dividend.
  • FIMBank also trades unchanged at the US$1.16 level on volumes of 4,715 shares. Last week international credit rating agency Fitch confirmed FIMBank’s ratings at BB. Further details available here.

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