Daily Market Highlights (26.11.09)

  • Local equity market continues to rally as HSBC and GO power ahead. MSE Share Index closes at a new 2009 high for the fourth consecutive session gaining a further 2.1% to 3,418.579 points. BOV and MIA also close in positive territory with Middlesea unchanged at €0.65. Download a copy of today’s Equity Market Summary .
  • Allocation policy in respect of the recent Mizzi Organisation Finance plc bond issue to be announced next Monday 30 November 2009. The bond issue was heavily oversubscribed and the Issuer exercised the over-allotment option increasing the total size to €30 million.
  • HSBC continues to rally with the equity climbing 5% to a new 2009 high of €3.25. Over 20,000 shares exchanged with further bids remaining unsatisfied at the closing price and lowest offers now at the €3.30 level.
  • GO share price also continues to register fresh 2009 highs. Equity gains a further 2.4% to a close of €1.945 on increased activity of 25,819 shares. The equity now stands 40% above its all-time low of €1.40 recorded on 18 March 2009. The Greek telecoms company Forthnet yesterday published its third quarter results. Group revenues climbed to €93.2 million from €54.1 million in the same period last year with EBITDA at €16.8 million (Q3 08: €4.3 million).
  • BOV closes 0.8% higher at €3.829 level but volumes remain weak at 6,093 shares. Further offers remain in the market at the closing level whilst highest bids pitched at €3.80. The Bank scheduled its Annual General Meeting for 16 December during which shareholders will be asked to approve a number of resolutions including the final gross dividend of €0.215 per share and a 1 for 4 bonus issue.
  • Middlesea share price opens 6.9% higher at €0.699 before dropping back to close today’s session at €0.65. 27,700 exchanged today across 3 trades. Rights issue subscription period opens next Monday 30 November. Further details of rights issue available here.
  • Meanwhile MIA reverses yesterday’s decline as it rises by 2.1% to regain the €2.40 level on volumes of 6,000 shares. This week low-cost carrier Easyjet announced that it will increase its Malta routes next year from Milan and Liverpool.

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