Daily Market Highlights (26.10.09)

  • MSE Share Index recovers some of last week’s 2.1% decline. Positive performances in the share prices of BOV, IHI and FIMBank help the equity market advance by 0.9% during today’s session to a close of 3,141.411 points. Various corporate bonds and Malta Government Stocks active today. Download a copy of today’s Equity Market Summary.
  • After closing unchanged for the previous five sessions, BOV’s share price edges 0.5% higher to close at the €3.365 level. Over 7,500 shares change hands today with best bids now placed at the €3.34 level whilst further offers remain outstanding at the closing price. The Bank is scheduled to publish its September 2009 full-year results next Friday 30 October.
  • Meanwhile HSBC closes minimally lower at the €2.749 level after touching an intra-day low of €2.739. A total of 8,500 shares exchanged during this morning’s session. Further offers outstanding at the closing price with best bids in the market at the €2.71 level.
  • FIMBank recovers from its multi-year low as the share price rises 3.6% to regain the US$1.14 level on volumes of just below 5,800 shares. Best bids now pitched at the US$1.11 level with further offers remain unsatisfied at the last trade price.
  • IHI also jumps 3.5% to regain the €0.85 level on a single trade of 500 shares. Best bids still in the market at the €0.825 whilst further offers placed at the closing price.
  • GO holds on to last week’s 2.5% increase as the equity closes unchanged at the €1.62 level after recovering from an intra-day low of €1.58. Almost 2,400 shares traded during this morning’s session with further bids unsatisfied at €1.58 and offers in the market at €1.62. Last Friday, Forthnet (the Greek telecoms company in which GO and its parent company Emirates International Telecommunications Limited hold a 37.1% equity stake) informed investors that it had not submitted a binding offer for the purchase of Wind Hellas.
  • Also last Thursday, Mizzi Organisation Finance plc announced that it has formally submitted an application to the Listing Authority with respect to a proposed new €25 million bond issue. The Company indicated its intention to give preference to the existing Bondholders who are willing to surrender their current holding in favour of a holding in the new Bonds. In this respect, the Board of Directors announced that Bondholders as at the close of trading on 27 October will be entitled to this preferential treatment. Further details of announcement available here.

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