Daily Market Highlights (21.12.2010)

  • MSE Share Index retreats 0.79% from yesterday’s nine-month high on declines in BOV, HSBC and Middlesea. On the other hand, IHI, MaltaPost and MIA close higher with Medserv and IHG unchanged. Download a copy of today’s Equity Market Summary .
  • Following yesterday’s 17.6% rise, IHI advances by a further 1.2% to close this morning’s session at €0.88 on volumes of 29,846 shares. Offers now placed in the market at €0.885. Last Friday IHI issued an announcement explaining that in anticipation of the new public offering and listing of the company’s shares on a major international stock exchange, senior executives of the company are currently meeting international institutional 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 in order to raise additional capital to take advantage of current acquisition and development opportunities in key cities. More details available here.
  • BOV’s share price in negative territory for the second consecutive session. Equity sheds a further 3.7% to close at the €3.61 level on activity of 10,757 shares.
  • HSBC’s equity also trades lower. Share price down by 0.2% to €3.083. 14,317 shares exchanged across 10 trades with remaining offers placed at €3.10.
  • MIA regains the €1.65 level on high volumes amounting to 15,832 shares. Further bids remain outstanding at the last traded price with lowest offers now placed at €1.66. 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.
  • MaltaPost rises by 2.2% to close at its 2010 high level of €0.95 and only minimally below its all-time high of €0.968. Further bids placed at the closing price with offers now placed at €1.00. The postal operator will be publishing its September 2010 full year results on 5 January.
  • Medserv’s equity returns to activity for the first time since 8 November. Share price unchanged at €4.27 as 25,640 shares are exchanged.
  • MIDI’s shares were admitted to the Official List of the Malta Stock Exchange yesterday. However no trades were effected this morning with no bids on the market and lowest offers of 2,200 shares at €0.50.
  • GO’s equity failed to trade this morning after the Group announced that Forgendo Limited (the joint venture company between GO and its majority shareholder Emirates International Telecommunications) increased its shareholding in Forthnet through an acquisition of a further 32,296 shares. Further details available here.

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