Daily Market Highlights (27.01.10)

  • MSE Share Index slips a further 0.6% to 3,864.337 points as the two big banks continue to decline. Middlesea Insurance and Grand Harbour Marina also trade lower whilst MIA reaches a fresh 17-month high. Download a copy of today’s Equity Market Summary.
  • BOV back into negative territory as it sheds a further 2.3% to close at the €3.42 level on volumes of 10,250 shares. Equity has slipped 9% from its recent high of €3.76 reached last Wednesday 20 January 2010.
  • HSBC also closes a further 0.4% lower to the €3.935 level on declining volumes of 15,550 shares. Best bids now at €3.90 whilst further offers remain unsatisfied at the closing price. The Bank is shortly expected to publish its 2009 full-year results and declare a final dividend to shareholders.
  • Following yesterday’s marginal decline, GO maintains the €2.275 level during this morning’s session. Two trades totalling 2,000 shares change hands today with best bids now placed at the €2.24 level whilst a further 11,200 shares on offer at the last trading price.
  • IHI also closes unchanged at the €0.78 level on high volumes of 70,000 shares. At these levels IHI is trading at a 22% discount from its nominal value of €1.00 and 30.4% lower than the Group’s June 2009 net asset value of €1.12 per share.
  • MIA’s share price hike persists as it trades higher for the third consecutive session. Equity advances by a further 1.6% to a fresh 17-month high of €3.10 but volumes remain low at 2,846 shares. Further shares remain on offer at the last closing price with highest bids in the market at €2.95. Last week the airport operator published its 2009 traffic statistics and the 2010 forecast. During a press conference, MIA CEO Julian Jaeger announced a 6.1% yearly decline in passenger movements in 2009 when compared to 2008. This represents an improvement from the 2009 forecast of a 6.8% decline in passenger movements provided by the company in July 2009. Moreover Mr. Jaeger announced that the Company is forecasting a 2.8% growth in passenger movements for 2010 based on the new routes for 2010 which will be operated by Easyjet, Ryanair, BMI and Norwegian. Further details of the statistics available here.
  • 7,500 Middlesea shares exchanged during this morning’s session. Share price again eases marginally lower to a close of €0.865. Two weeks ago the Insurance Group revealed that preliminary data is showing a marked deterioration in claims at the Group’s Italian subsidiary Progress Assicurazioni during the last quarter of 2009. Further details on the announcement available here.
  • Grand Harbour Marina’s equity active for the second successive session. Share price slips a further 2.6% to a new 13-month low of €1.90. Further bids outstanding in the market at the closing price whilst lowest offers now pitched at the €1.95 level. On Monday the Company announced details of a €10million, 10-year bond issue carrying a coupon of 7%. Further details on the bond issue available here.
  • A single trade of just 1,500 Lombard shares transacted this morning at the €3.12 level, unchanged from the previous close. The Bank is scheduled to publish its 2009 full-year results on 11 March 2010.

Comments are closed.