Daily Market Highlights (22.11.10)

  • Positive trend in local equity market ended as the MSE Share Index closed minimally lower today at 3,522.120 points. GO was the sole mover today with a fractional decline whilst all other active equities closed unchanged. Download a copy of today’s Equity Market Summary.
  • Only GO’s share price moved during this morning’s session to close minimally lower at €1.899 on a single trade of 5,200 shares. Meanwhile Forthnet, GO’s Greek investment, has slumped 28.8% to a low of €0.37 this morning since the publication of third quarter results which showed a deteriorating EBITDA despite increased customers.
  • 50,000 FIMBank shares traded unchanged at the US$0.94 level Meanwhile on Friday afternoon, FIMBank reported that the voting and other rights over 35 million shares in the Bank held by Massaleh Investments shall be exercisable exclusively by Burgan Bank of Kuwait.
  • High volumes also traded in IHI as the equity maintained the €0.77 level across three trades amounting to 50,000 shares. Further offers remained unsatisfied at the closing price whilst best bids now placed at the €0.76 level.
  • Following the 14.2% rise in the last four weeks, BOV remains well supported at €3.70 as a further 13,786 shares changed hands at this level. Investors acquiring BOV shares until 7 January 2011 will be entitled to the 1 for 5 bonus issue. Details of September 2010 financial results available here.
  • HSBC also unchanged at the €2.98 level on volumes of just over 6,000 shares. Recently the Bank published its Interim Directors’ Statement explaining that the positive trend of the first half of the year was maintained during the subsequent months. Further details available here.
  • Middlesea maintained the €1.05 level across four trades amounting to 5,675 shares. Offers already placed minimally lower at €1.049 whilst best bids still pitched at the €1.00 level. Last Friday, the Insurance Group published its Interim Directors’ Statement revealing that the third quarter performance was in line with that reported at the half year stage when the Group registered a pre-tax profit of €3.4 million. Further details available here.
  • Pre-placement of MIDI plc’s share issue to be held on Friday 26 November. The Company is issuing 44,444,444 shares at a price of €0.45 per share with an over-allotment option of up to a further 22,222,222 shares. Further details available here.

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