Daily Market Highlights (23.11.10)

  • Local equity market in negative territory for the second consecutive session. MSE Share Index slips 0.5% to 3,505.841 points as HSBC, FIMBank and GlobalCapital close in negative territory. Meanwhile GO edges minimally higher whilst BOV, MIA and Lombard close unchanged. Download a copy of today’s Equity Market Summary.
  • 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.
  • Malta Government Stock bid prices recover strongly as the benchmark 10-year yield retreats to the 2.60% level following confirmation of financial aid in favour of Ireland and on increased concerns on that Europe’s debt crisis will spread to other periphery nations. The 5.25% MGS 2030 (I) climbed 50 basis points to 102.50%. The recent primary market issue of the 20-year paper was offered by the Treasury at 101.50% and investors now eagerly await its listing and the refunds of unallocated monies from the Treasury.
  • BOV holds onto the €3.70 level for the sixth consecutive session. A further 17,181 shares change hands today with further offers unsatisfied at the closing price whilst best bids now pitched at the €3.64 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.
  • Meanwhile HSBC eases 1% lower to close at the €2.95 level across four trades totalling 10,746 shares. Further bids outstanding at the last traded price whilst lowest offers now pitched at the €2.97 level. 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.
  • GlobalCapital shares active for the first time in almost three months. Equity plunges 22.1% to a fresh all-time low of €0.997 possibly in reaction to last week’s Interim Directors’ Statement which revealed that a drop in revenue during the third quarter of the year further delayed the Group’s return to profitability. Further details available here. Over 10,400 shares change hands today with offers of 20,000 shares placed at the €0.999 level.
  • Another 50,000 FIMBank shares trade today with the share price easing 1.1% lower to the US$0.93 level. Last 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.
  • GO recovered from an intra-day low of €1.86 to close minimally higher at the €1.90 level. 2,400 shares exchanged today with further offers outstanding at the closing price. Meanwhile substantially high volumes reaching over 9 million shares traded in the Greek telecoms Group, Forthnet, representing circa 6% of its total outstanding shares.
  • MIA and Lombard unchanged on low volumes. A single trade of 673 MIA shares transacted at the €1.648 level. Four deals amounting to 3,700 Lombard shares traded at the €2.65 level.

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