Daily Market Highlights – 30.11.09

  • MSE Share Index declines by a further 0.6% to close today’s session at 3,351.185 points, representing a 2.6% drop from the 2009 high of 3,418.579 points reached last Thursday 26 November. Today’s downturn was mainly due to the declines in BOV, IHI and Middlesea which offset HSBC’s 0.7% recovery. Trading volumes also lower possibly as the market awaits further news on the Dubai front. Download a copy of today’s Equity Market Summary.
  • Allocation policy in respect of the recent Mizzi Organisation Finance plc bond issue expected to be announced later on today. The bond issue was heavily oversubscribed and the Issuer exercised the over-allotment option increasing the total size to €30 million.
  • HSBC recovers some of last Friday’s 5.9% plunge as the share price edges 0.7% higher to regain the €3.08 level. Only 5,000 shares exchanged today with few other bids in the market at the closing price whilst lowest offers now pitched at the €3.12 level.
  • Meanwhile BOV sheds 1.1% to €3.67 on low volumes of 3,900 shares. Few bids outstanding at the last trading price with lowest offers still pitched at the €3.80 level. Today BOV published the agenda for the forthcoming Annual General Meeting scheduled for 16 December. Amongst the resolutions, shareholders will be asked to approve the final gross dividend of €0.215 per share and a 1 for 4 bonus issue.
  • IHI also slips 2.4% to the €0.80 level on a single trade of 10,805 shares. Further bids remaining unsatisfied at the closing price whilst lowest offers still pitched at the €0.82 level.
  • GO closes minimally lower at €1.939 after re-testing the €1.90 level. Over 5,500 shares exchanged today with best bids in the market at €1.89 whilst few other offers outstanding at the closing price. Last week, the Greek telecoms company Forthnet published its third quarter results showing improved revenues of €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 reverses last Friday’s increase as the share price slides 7.1% to close again at the €0.65 level. Two trades totalling just 1,000 shares transacted this morning. Rights Issue subscription period closes on 14 December. Further details available here.
  • Meanwhile IHG Holdings and Plaza Centres close unchanged on very thin volumes. A miniscule trade of 500 IHG Holdings shares transacted at the €1.02 level with no demand in sight and further offers at the closing price. 500 Plaza Centres shares also traded today at the €1.60 level with bids at €1.54 whilst lowest offers still at the €1.63 level.

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