Daily Market Highlights (27.11.09)

  • MSE Share Index retreats by almost 2% from yesterday’s high to close the week at 3,351.185 points after most active equities close in negative territory led by HSBC which plunged 5.8%. Markets worldwide were negatively affected amid concern Dubai’s proposal to delay debt payments may trigger the biggest sovereign default since Argentina in 2001. 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 reverses most of this week’s gains as it plunged 5.9% to €3.06 on volumes of 24,848 shares. Despite today’s decline, the equity managed to close the week 2% higher on high volumes totalling 75,857 shares. Fresh bids already placed at €3.10 with lowest offers at €3.15.
  • BOV also edges 0.8% lower on low volumes to end the week unchanged at €3.80. Further offers remain in the market at the closing level with highest bids pitched at €3.76. 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.
  • A single trade of 1,840 GlobalCapital share executed at the limit up price of €1.139, representing a 7% gain from its previous close. The equity ends the week as the best performer with a 13.9% hike. Lowest offers are now placed in the market substantially higher at €1.498.
  • GO’s share price closes marginally lower at €1.94 after opening this morning’s session 2.4% lower at €1.899. Volumes in GO’s equity remain high at 25,500 shares. This week the equity rose 6.6% resulting in a 39% recovery from its all time low level of €0.40 recorded on 18 March 2009. Further offers available in the market at the closing price. Yesterday, 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).
  • Middlesea share price jumps 7.7% to end the week unchanged at the €0.70 level. Rights issue subscription period opens next Monday 30 November. Further details of rights issue available here.
  • MIA closes minimally lower at €2.399 on 2 trades totalling 2,000 shares. Despite today’s decline, the equity still registered a weekly gain of 2.1% following last Friday’s Interim Statement confirming that the airport operator should achieve a similar profitability as in last year when it generated a pre-tax profit of €13.7 million. This week low-cost carrier Easyjet announced that it will increase its Malta routes next year from Milan and Liverpool.
  • MaltaPost share price down 0.8% to €0.635 on volumes of 5,600 shares. Further bids are placed in the market at this level with lowest offers at €0.70.

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