Daily Market Highligts (10.08.10)

  • Trading activity declines in the local financial market in line with the trend of the summer period. MSE Share Index back into negative territory as it eases 0.1% lower to 3,488.277 points on the back of declines in HSBC and BOV. Meanwhile Middlesea and GO closed unchanged. Download a copy of today’s Equity Market Summary.
  • BOV shed 0.6% to close at the €3.28 level across five trades totalling just over 6,400 shares. Further bids remain unsatisfied at the closing price whilst lowest offers now pitched at the €3.285 level.
  • HSBC inches marginally lower to €2.999 on volumes of 6,540 shares. The bank will pay the recently declared net interim dividend of €0.051 per share on 24 August.
  • GO eased to an intra-day low of €1.895 before recovering to close unchanged at the €1.90 level. 3,800 shares changed hands today with best bids still in the market at €1.85 whilst further offers outstanding at the closing price. This morning the quad play operator announced that the 2010 interim results will be published on 31 August.
  • Middlesea Insurance also closed unchanged at the €1.10 level over a single trade of 5,000 shares.  The Insurance Group is scheduled to report its interim results on Thursday 12 August.
  • FIMBank’s interim results revealed a 16.4% increase in profit after tax to US$3.39 million mainly due to growth in net fee and commission income as factoring activity picked up. In conclusion the Directors stated that FIMBank’s balance sheet is healthy and growing as is the general pipeline of business. Further details and copy of interim report available here. Equity inactive today with best bids in the market placed at the equity’s 5-year low of US$0.95 whilst lowest offers pitched at the US$1.00 level.
  • This afternoon MIA announced a new agreement, effective January 2011, with International Airport Advertising Corporation Ltd (IAAC) which will be taking over the advertising programme on MIA’s premises. IAAC will be working closely with its strategic partners, Clear Channel Airports (CCA) to enhance sales at the airport by introducing the latest media available on the market through a €1 million investment plan. Further details available here.
  • Loqus Holdings plc slipped 4.8% lower as the IT’s equity traded for the first since 1 July 2010. A single trade of 3,548 shares executed today with further bids unsatisfied at the closing price whilst lowest offers still pitched at the €0.32 level.

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