Daily Market Highlights (30.09.09)

  • Positive investor sentiment pushes the MSE Share Index higher for the fifth consecutive session. Index rises a further 2% to regain the 3,201.521 points level as the rise in index heavyweights HSBC and IHI outweigh dips in BOV and Plaza Centres. Download a copy of today’s Equity Market Summary.
  • Further demand for HSBC shares help the equity close 3.2% higher to €2.89 after easing from an intra-day high of €2.915. Increased volumes of 37,870 shares were exchanged today with few bids in the market at €2.88 whilst further offers remain unsatisfied at the closing price.
  • Intensified buying pressure was also registered in BOV shares which touched a fresh 2009 high of €3.41. Fresh sell orders executed at the last seconds of this morning’s trading session pulled the share price down back to the €3.301 level representing a 1.5% decline from the previous close. Only 8,470 shares exchanged today with few other bids remaining at the last traded price whilst lowest offers are placed at the €3.39 level.
  • A single trade of 1,750 IHI shares transacted at the €0.875 level, 6.7% higher than the previous close. Best bids already placed marginally higher at the €0.877 level whilst lowest offers still in the market at €0.88.
  • Plaza Centres eases 0.3% lower to the €1.635 level as it trades for the first time in two weeks. 1,200 shares changed hands today in a single trade.
  • After close of this morning’s trading session, Simonds Farsons Cisk published its financial statements for the six months ended 31 July 2009. The results show a significant improvement in the Group’s profitability from €982,000 registered last year to €1,807,000 for the first half of the current financial year which ends on 31 January 2010. The Directors declared an interim dividend of €0.01 out of tax exempt profits to shareholders as at close of trading on Tuesday 6 October. Further details available here.
  • Yesterday evening, Melita Capital announced that its €25 million 7.15% bond issue was closed due to oversubscription. The issuer has the right to increase the total amount of the bond issue up to a maximum of €30 million. The allotment policy being adopted is expected to be announced in the next few days.
  • Also yesterday, IHG Holdings plc announced its allocation policy with respect to its recent combined offering of equity and bonds. Both the equity and bond offerings were oversubscribed. Details on allocation policy available here.

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