Daily Market Highlights (29.10.09)

  • Following two sessions of declines, the MSE Share Index edges 0.3% higher to close at 3,094.79 points as gains in the two big banks offset MIA’s drop. Subdued trading activity both in the equity and bond markets. Download a copy of today’s Equity Market Summary.
  • BOV’s share price closes in positive territory for the fourth consecutive session. Equity rises a further 0.3% during this morning’s session on volumes of 14,000 shares. Best bids now placed at €3.35 with lowest offers already placed below the last closing price at the €3.40 level. Tomorrow the Bank is scheduled to publish its September 2009 full-year results.
  • HSBC also trades higher as the share price reverses yesterday’s decline to regain the €2.69 level. Two trades totalling 2,600 shares transacted today with further bids at the last trade price and lowest offers now in the market at the €2.70 level.
  • A single trade of just 80 FIMBank shares transacted today at the US$1.40 level, unchanged from the previous close. Further offers remaining unsatisfied at this level with best bids at US$1.09.
  • GO closes unchanged at the €1.63 level for the second consecutive session on volumes of 7,625 shares. 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.
  • Following yesterday’s 6.5% drop, MIA’s share price slips a further 2.3% today to close at the €2.101 level. Best bids already placed marginally higher at €2.105 with lowest offers in the market at the €2.20 level.
  • IHI shares remain inactive despite yesterday’s announcement revealing that the Company 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. Few offers still in the market at €0.80 whilst lowest offers now placed higher than the last closing price of €0.85.
  • 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 on 27 October will be entitled to this preferential treatment. Further details of announcement available here.

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