Daily Market Highlights (24.09.09)

  • MSE Share Index closes the day marginally higher at 2,990.962 points as the positive performances of BOV and FIMBank outweigh GO’s 4.9% drop. Low volumes persist in the local secondary market as investors focus on the new bond issues. Download a copy of today’s Equity Market Summary.
  • BOV jumps 1.3% to a fresh 2009 high of €3.05 on volumes of 18,579 shares. Further bids in the market at the closing price with lowest offers now placed at the €3.07 level.
  • Meanwhile HSBC shares maintain the €2.63 level on four trades totalling 1,880 shares. Best bids still pitched at the €2.61 level whilst further offers remain unsatisfied at the closing price.
  • FIMBank also recovers 2.8% to close at the US$1.195 level on volumes of 2,500 shares following yesterday’s 7% decline. Few bids still placed at the US$1.16 level with further offers outstanding at the close price.
  • GO in negative territory for the second consecutive session as the share price slips a further 4.9% lower to close at the €1.55 level during this morning’s session. Only two trades amounting to just 875 shares transacted today with bids now placed at €1.54 whilst lowest offers in the market at the €1.58 level.
  • IHI closes unchanged at the €0.80 level as it trades for the first time since 9 September. 2,982 shares exchanged during this morning’s session with further bids at the close price whilst lowest offers pitched at the €0.82 level.
  • On the IT front, Crimsonwing edges marginally lower to €0.389 on a single trade of 500 shares. Meanwhile RS2 Software trades unchanged at the €0.599 also on a single trade of 2,027 shares.
  • Pre-placement held this morning for the €25 million Melita Capital plc bonds issued at a coupon of 7.15% per annum with interest payable semi-annually. Meanwhile the General Offering will open next Monday 28 September. For further details on the new bond issue please click here.
  • Corinthia Finance plc yesterday announced the allotment policy with respect to its recent 6.25% 2016 – 2019 bond issue. The 1,614 applications totalling €14 million received from holders of the 6.7% bonds maturing on 30 October 2009 will be met in full. Meanwhile Corinthia Finance also stated that it received a further 2,606 applications for a total value of €20.1 million from new investors. In view of the over subscription, Corinthia announced that the first €5,000 will be met in full whilst it will allot 11.42% of the next €45,000 and 5% of the remaining balance. Interest on these bonds starts accruing from today. Allotment letters and refunds will be processed by Thursday 24 September. Further details available here.
  • Allocation policy in respect of the equity and bond offerings by Island Hotels Group Holdings plc which closed earlier this week to be announced in the coming days.

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