Daily Market Highlights (25.11.10)

  • Local equity market in negative territory for the third time this week as volumes deplete further. MSE Share Index eases a further 0.2% to close just above the 3,500-points level as the declines in BOV, MIA and RS2 offset the increases in FIMBank and MaltaPost. Meanwhile HSBC and Grand Harbour Marina closed unchanged. Download a copy of today’s Equity Market Summary.
  • Applications for MIDI plc shares must be submitted by tomorrow in order to participate in the pre-placement stage. 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.
  • BOV closed in negative territory for the first time in two weeks. Equity edged 0.3% lower to €3.689 on low volumes of 3,768 shares. Lowest offers placed at €3.69 whilst best bids still in the market at the €3.65 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 closed unchanged at the €2.95 level also on low volumes of 6,000 shares spread across two trades. Further offers outstanding at the last closing price whilst best bids still pitched at the €2.93 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.
  • MaltaPost reached a  new 32-month high on renewed demand. Equity climbed 2.5% to close at the €0.95 level across two trades amounting to 3,034 shares. Further offers unsatisfied at the closing price whilst best bids now placed at the €0.935 level. The postal operator is expected to publish its full-year results in January.
  • RS2 Software shares trade for the first time since 8 July with its share price plunging 10.7% back to the €0.50 level on a single trade of 2,000 shares. In its recent Interim Directors’ Statement the company revealed a 7% rise in customers since the half-year end, a new licence in the US and a new CPA in Germany. Moreover the directors expect an improvement in profitability over last year and remain cautiously optimistic about the level of activity for 2011.
  • MIA also in negative territory despite its recent Interim Directors’ Statement revealing an expected continued growth in passenger numbers during the last part of 2010. Moreover the higher than projected growth in passenger numbers to date is expected to contribute to an improved profitability. This morning the share price slid 1.4% to close at €1.625. Further bids unsatisfied at the last closing price whilst lowest offers pitched at the €1.648 level.
  • FIMBank regains the US$0.94 level (+1.1%) across two trades totalling 4,748 shares. Further offers outstanding at the closing price whilst best bids now pitched at the €0.93 level. Yesterday the trade specialist announced that the recent transfer of voting and other rights over 35 million FIMBank shares from Massaleh Investments to Burgan Bank of Kuwait has been reversed with immediate effect.
  • Another 1,000 Grand Harbour Marina shares trade unchanged at the €1.98 level. Further offers in the market at this level whilst best bids still placed at €1.70.

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