Daily Market Highlights (23.11.09)

  • MSE Share Index jumps 0.8% to a fresh 2009 high of 3,318.485 points as most of the active equities trade higher including HSBC which also closes at a new 2009 high. Following today’s upturn, the Index is 3.4% higher than at the beginning of the year. Download a copy of today’s Equity Market Summary.
  • This morning Mizzi Organisation Finance plc announced that its €25 million 6.2% bond issue closed shortly after the opening of subscriptions. Due to the heavy oversubscription, the Issuer exercised its right to increase the total amount of the bond issue to €30 million. The allotment policy to be adopted is expected to be announced next Monday 30 November 2009.
  • HSBC rises 0.7% to close at €3.02 after toching a fresh 2009 intra-day high of €3.021. Over 6,800 shares exchanged today with few other bids at the closing price whilst lowest offers now pitched at the €3.04 level.
  • Meanwhile BOV closes unchanged at the €3.80 level after fresh sell orders push the share price down from an intra-day high of €3.834. Twelve trades amounting to almost 8,000 shares transacted this morning. The Bank scheduled its Annual General Meeting for 16 December during which shareholders will be asked to approve a number of resolutions including the final gross dividend of €0.215 per share and a 1 for 4 bonus issue.
  • GO’s share price increases by a further 2.8% to regain its 2009 high of €1.87 during this morning’s session. Just over 9,800 shares change hands today with best bids in the market at €1.82 whilst lowest offers now placed at the €1.87 level. Following today’s rise, equity recovered by 33.6% since its March lows of €1.40 and by 24.7% from its recent low of €1.50.
  • Last Friday’s Interim Directors’ Statement boosts demand for MIA shares. Equity climbs a further 4.3% (following last week’s 6.8% increase) to €2.45 as the airport operator reported a significant improvement in passenger numbers in the second half of the year compared to the first six months. The Directors also confirmed that its 2009 full-year financial results should be largely in line with the projections made at the beginning of the year and with those of 2008 despite an expected 7% decline in passenger numbers. Further details of interim statement available here. 5,650 shares exchanged today with further offers outstanding at the closing price.
  • Middlesea recovers by 7.1% to close at the €0.75 level after touching an intra-day high of €0.80. 11,000 shares trade with best bids now at €0.65 whilst lowest offers in the market at the €0.80 level. During last Friday’s Extraordinary General Meeting, shareholders approved all resolutions including the Rights Issue. Prospectus of the Rights Issue available here.
  • FIMBank also recovers marginally by 0.9% to US$1.11 on total volumes of 10,865 shares. Last week the trade specialist issued its Interim Directors’ Statement explaining that the Group started the third quarter of 2009 with a healthy liquidity position and capital adequacy ratios which enabled a gradual pick-up in business for the Bank, Menafactors in Dubai and EgyptFactors as well as the trading performance of London Forfaiting Company. Furthermore, the Directors are satisfied with the recent formations of factoring joint-ventures in the important markets of Russia and India which are expected to start operations in the first quarter of 2010.

Comments are closed.