Daily Market Highlights (31.05.10)

  • MSE Share Index retreats by a further 0.4% to close at 3,484.288 points – just 0.7% higher than the value of the Index at the start of the year. Today’s downturn was mainly caused by the declines in HSBC and FIMBank which offset the gains in BOV and MaltaPost. IHI and GO also in negative territory whilst MIA closed unchanged. Today marks the end of May during which Middlesea ranked as the best performing equity with a 22.1% rise followed by RS2 Software (+10.4%). Meanwhile, from the equities listed on the Official List, GlobalCapital (-11.8%) and FIMBank (-6.5%) were the laggards in May. Download a copy of today’s Equity Market Summary.
  • The general public offering of the new €15 million 6.6% Eden Finance plc bond opened this morning. The proceeds will be mainly used to finance the redemption of the outstanding 6.7% Bonds. Further details available here.
  • Meanwhile the General Public Offering with respect to the new bond issue by Simonds Farsons Cisk plc will open tomorrow. Farsons is issuing a €15 million 6% bond maturing between 2017 and 2020. This bond will primarily be used to finance the early redemption of the outstanding €9.3 million 6.6% bonds. The balance of the proceeds will be used for the general funding purposes of the Group including a €14 million investment in a new brewhouse and water treatment plant. Further details and prospectus available here.
  • HSBC adds on to last week’s 1% decline, as its share price sheds a further 1% during this morning’s session to close at its 2010 low of €3.00. Increased volumes of 31,500 shares exchanged today with few other bids unsatisfied at the closing price whilst lowest offers now pitched at the €3.029 level. HSBC closes in negative territory for the fourth consecutive month resulting in a 7.1% drop since the start of the year.
  • Meanwhile BOV recovers some of last week’s declines as the equity edges 0.9% higher to regain the €3.28 level. Almost 29,000 shares transacted this morning with best bids at €3.273 whilst lowest offers in the market at the €3.30 level. Although BOV’s share price eased 2.5% lower during May, the equity is still 5.9% higher than its share price at the beginning of the year.
  • FIMBank sheds 6.5% in the latter part of today’s trading session to close at a new 57-month low of US$1.01. Over 6,600 shares exchanged today with further bids unsatisfied at the last closing price. FIMBank’s share price is currently 8.2% lower than the price as at 31 December 2009 following three successive months of declines.
  • High volumes in MaltaPost totalling 81,000 shares with the share price climbing 3.5% to its 2010 high of €0.90 on the back of renewed demand. Lowest offers now placed at the €1.03 level – an all time high. Following the increases in April and May, of 13.2% and 6.1% respectively, MaltaPost’s shares are now 28.6% higher after the first five months of this year.
  • IHI and GO edge marginally lower. IHI shaves 0.6% to drop to the €0.825 level on two trades amounting to 3,775 shares. The telecoms Group sheds 0.2% to close at the €2.075 level on a single trade of 1,000 shares.
  • MIA unchanged at the €3.15 level on volumes of 1,850 shares. Equity slips 1.6% during May but still ranks as the best performing equity year to date (from all the shares listed on the Official List) with a 31.3% increase since the start of 2010.
  • The only equity listed on the Alternative List, Loqus Holdings plc slumped 19.4% this morning to €0.15 on a single trade of 2,548 shares. Further bids outstanding at the closing price whilst lowest offers now pitched at the €0.32 level.

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