Daily Market Highlights (28.10.09)

  • MSE Share Index slides a further 0.8% to 3,084.233 level as HSBC, MIA and GlobalCapital drop lower. Volumes contract in the equity market with increased trading activity in the corporate bond market. Download a copy of today’s Equity Market Summary.
  • BOV’s share price edges a further 0.1% higher to the €3.399 level ahead of the Bank’s September 2009 full-year results publication next Friday 30 October. Just over 6,700 shares change hands this morning with best bids still at the €3.32 level whilst other offers remain unsatisfied at the closing price.
  • Meanwhile HSBC’s negative run stretches into its fourth consecutive session with a decline of a further 1.1% to €2.66 on volumes of over 2,800 shares.
  • IHI today announced that it has increased its shareholding in NLI Holdings Limited from 37.04% to 50%. NLI Holdings Limited is the company owning the London property comprising the former Metropole Hotel on Northumberland Avenue and 15 Whitehall Place. Further details on the London Property available here. News fails to generate any trades in IHI shares with few bids at €0.80 whilst lowest offers placed a the last closing price of €0.82.
  • MIA‘s equity erases yesterday’s gain as the share price slides 6.5% to the €2.15 level. 2,800 shares trade this morning with few other bids at the closing price whilst lowest offers now placed at the €2.20 level.
  • GlobalCapital slumps a staggering 33.3% to its all-time low of €1.00 on volumes of only 950 shares. The equity had last traded on 2 July.
  • GO’s share price maintains the €1.63 level after recovering from an intra-day low of €1.60. Ten trades totalling 22,370 shares exchanged today with best bids at €1.60 whilst lowest offers in the market at the €1.649 level. 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.
  • Last week, 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 yesterday will be entitled to this preferential treatment. Further details of announcement available here.

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