Daily Market Highlights (25.06.10)

  • MSE Share Index sinks a further 0.5% during this morning’s session to close at 3,381.738 points as the declines in the heavyweights BOV and IHI offset the 2.1% increase in Middlesea Insurance. The other four active equities all close unchanged. Index closes in negative territory for the fifth consecutive week. This week the Index shed a further 0.9% mainly dragged lower by declines in HSBC, BOV and IHI outweighing the 10.7% increase in Middlesea Insurance. Download a copy of today’s Equity Market Summary.
  • BOV trades lower for the third time this week. Share price slumps a further 1.9% to drop back to the €3.14 level on almost 9,000 shares. Best bids still pitched at €3.10 whilst lowest offers in the market at the €3.20 level. Equity closes this week as the worst performing equity with a 3.4% drop.
  • Meanwhile HSBC closes unchanged at the €2.84 level on volumes of 11,410 shares. Further offers unsatisfied at the closing price whilst best bids still placed at the €2.835 level. Equity still ends the week 1.1% lower.
  • Sustained demand lifts Middlesea Insurance 2.1% higher to a fresh 2010 high of €1.052 across two trades amounting to 1,871 shares. Bids already placed higher at €1.055 with lowest offers now pitched at the €1.20 level. The Insurance equity was the star performer of the week with a 10.7% jump.
  • IHI eases 0.7% lower to close at €0.819 as it traded for the first time this week. A single trade of just over 2,000 shares executed today with best bids now placed at €0.801 whilst further offers remain outstanding at the closing price.
  • GO again closes unchanged at the €1.85 level on volumes of 1,160 shares. Few other bids outstanding at the last traded price whilst lowest offers now pitched at the €1.86 level. During the week GO recovered some of last week’s 9% drop as it registered a weekly increase of 1.7%.
  • A single trade of 15,396 Simonds Farsons Cisk shares transacted at the €1.80 level, unchanged from the previous close. Farsons yesterday held its Annual General Meeting and an Extraordinary General Meeting during which shareholders approved all the items on the agenda including the dividend. The final net dividend of €0.05 per share was paid today.
  • MIA’s share price maintained at the €1.62 level representing a weekly decline of 1.2%. Over 1,300 shares traded today with further offers outstanding at the closing price.
  • The General Public Offer of the new bond issue by Tumas Investments plc closed immediately after opening this morning due to over-subscription. Allocation policy expected to be announced in the coming days.

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