Daily Market Highlights (22.09.09)

  • MSE Share Index drops 0.2% to close below the 3,000 points level for the first time in two months on renewed selling pressure in the two big banks. On the other hand Simonds Farsons Cisk closes minimally higher whilst MaltaPost trades unchanged. Low volumes continue to characterise local equity market as investors focus on the new bond issues. Meanwhile various corporate bonds active today with high volumes in the 4.6% HSBC 2017. Download a copy of today’s Equity Market Summary.
  • BOV reverses some of last Friday’s rise as the share price eases 0.3% to the €3.01 level. Just under 2,000 shares exchanged today with further bids remaining unsatisfied at the closing price whilst lowest offers now placed at the €3.05 level.
  • HSBC closes in negative territory for the fourth consecutive session. Share price edges a further 0.4% lower to the €2.61 level after dropping from an intraday high of €2.65. Six trades totalling 5,500 shares exchanged today with further bids outstanding at the closing price whilst lowest offers now pitched at the €2.64 level.
  • Simonds Farsons Cisk trades 0.3% higher to close at the €1.60 level on volumes of 3,129 shares. The Group is shortly expected to announce the date of publication for its interim results covering the six months ended 31 July 2009.
  • A further 2,056 MaltaPost shares exchanged today at the €0.69 level, unchanged from its previous close. Best bids now placed at the €0.65 level with further offers remaining unsatisfied at the close price.
  • €25 million Melita Capital plc bonds issued at a coupon of 7.15% per annum with interest payable semi-annually. The preplacement stage for applications of a minimum of €10,000 will be held on Thursday 24 September while the General Offering opens on Monday 28 September. For further details on the new bond issue please click here.
  • The equity and bond offerings by Island Hotels Group Holdings plc which opened for public subscription this morning were immediately closed due to oversubscription. Allocation policy to be announced in the next few days.
  • Corinthia Finance plc expected to publish details of the allocation policy and the amounts received from preferred applicants as well as from new investors by tomorrow. Last week the Company announced that its €20 million bond issue was oversubscribed as a result of the strong demand from preferred applicants as well as from new investors.

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