Daily Market Highlights (25.09.09)

  • MSE Share Index  gains  0.6% to close above the 3,000 points level as BOV, GO and MIA trade higher. Meanwhile the only other active equity, HSBC, closed unchanged. Following the positive performance of the last two sessions, the Index ends the week a marginal 0.1% higher. Download a copy of today’s Equity Market Summary.
  • BOV climbs a further 1.3% to a fresh 2009 high of €3.09 on volumes of 12,000 shares. Best bids in the market now placed at the €3.08 level whilst few other offers remain unsatisfied at the closing price. Equity closes the week 2.3% higher as investors take a position in anticipation of the September 2009 full-year results publication due by end of October.
  • Meanwhile a further 1,765 HSBC shares trade unchanged at the €2.63 level. Best bids in the market at €2.615 with further offers outstanding at today’s close price.
  • GO closes 1.9% higher at the €1.58 level after recovering from an intra-day low of €1.50. Nine trades amounting to 7,800 shares transacted today with bids placed at the €1.501 whilst few offers remain at the close price. Despite today’s recovery, the telecoms equity still ends the week as the worst performer with a 6.5% drop.
  • MIA also ends the week with a positive performance as it trades for the first time since 16 September. Equity jumps 5.2% to regain the €2.23 level on volumes of 1,800 shares. Further bids in the market at the closing price whilst lowest offers placed substantially higher at the €2.99 level.
  • The pre-placement for the €25 million Melita Capital plc bonds issued at a coupon of 7.15% per annum with interest payable semi-annually was held yesterday. Meanwhile the General Offering will open next Monday 28 September. For further details on the new bond issue please click here.
  • On Wednesday Corinthia Finance plc 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. 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 is  to be announced in the coming days.

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