Daily Market Highlights (23.10.09)

  • MSE Share Index slips 0.5% to 3,114.326 points as HSBC and Simonds Farsons Cisk declined outweighing the increases in GO, Medserv and MaltaPost. Index ends the week 2.1% lower led by the drops in HSBC, IHI, FIMBank and MIA. Download a copy of today’s Equity Market Summary.
  • HSBC shaves 1.7% to close at the €2.75 level on just 460 shares. Best bids in the market at €2.70 whilst lowest offers already placed below the last closing price at €2.739. Following today’s decline, HSBC ended the week 1.8% lower.
  • Meanwhile BOV closed the week unchanged at the €3.35 level ahead of the Bank’s September 2009 full-year results publication expected on Friday 30 October. 12,600 shares changed hands today with best bids at €3.32 whilst few other offers in the market at the last trading price.
  • GO edges 0.6% higher to €1.62. 11,000 shares traded this morning with further offers at the closing price. GO ranks as the best performing equity this week with a 2.5% increase.
  • Simonds Farsons Cisk erases last Wednesday’s increase with a 3% drop back to the €1.60 level on 2,875 shares.
  • Medserv shares remain in demand with a further 0.2% increase today to a fresh 14-month high of €3.999. Three trades totalling 4,400 shares exchanged today with no bids in the market and offers already placed minimally below today’s closing price. This week’s 1.2% increase helped the equity move 14.3% higher since the Company’s interim results publication on 31 August. The results showed total revenue for the first half of 2009 of €8.2 million, representing a 38.2% increase over the turnover in the comparative period last year. Moreover the Group’s pre-tax profit surged to €1.5 million from €0.7 million in the first half of 2008. Further details on results available here.
  • MaltaPost also in positive territory as the share price recovers last Wednesday’s decline to close the week unchanged. Equity rises 1.3% to regain the €0.70 level on volumes of 6,000 shares.
  • Yesterday Mizzi Organisation Finance plc announced that it has formally submitted an application to the Listing Authority with respect to a proposed new €25 million bond issue. The Company indicated its intention to give preference to the existing Bondholders who are willing to surrender their current holding in favour of a holding in the new Bonds. In this respect, the Board of Directors announced that Bondholders as at the close of trading on 27 October will be entitled to this preferential treatment. Further details of announcement available here.

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