Financial news
13 January 2010 16:14
 Four gainers recorded at Garrison Chapel
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| During the mid-week session, the Malta Stock Exchange lost 0.93% to finish at 3770.51 points. Bank of Valletta p.l.c., HSBC Bank Malta p.l.c., Middlesea Insurance p.l.c. and FIMBank p.l.c. traded lower while the shares of Lombard Bank Malta p.l.c., GlobalCapital p.l.c., GO p.l.c. and IHI p.l.c. registered an increase in their share price. · On 30th October, Bank of Valletta p.l.c. had announced that a bonus share issue of one share for every four shares held which will be allotted to shareholders on the Bank’s share register as at close of business on 15th January 2010. The bonus issue will be funded by a capitalisation of reserves amounting to €40 million. The share price was adjusted and finished at €3.28, which is €0.82 lower than the previous session close across 13,878 shares. · The shares of HSBC Bank Malta p.l.c. closed in negative terrain. The share price surrendered €15c5 to settle at the €3.845 level across 25,571 shares. Remaining on the banking front, the shares of FIMBank p.l.c. slipped US$2c0 at US$1.14 across 15,000 shares. Meanwhile, Lombard Bank Malta p.l.c. managed to advance €4c0 at €3.14 across 3,620 shares. · On a positive note the shares of GlobalCapital p.l.c. edged forward €0c1 to settle at the €1.50 level across 1,130 shares. These shares were swapped across a single deal. The shares of Middlesea Insurance p.l.c. decreased €6c3 at €0.845. Volume was strong as 34,113 shares were negotiated in eighteen deals. · The shares of GO p.l.c. and IHI p.l.c. traded €4c0 and €3c4 higher to close at €2.24 and €0.80 respectively. · Elsewhere on the board, the shares of IHG p.l.c. decreased €c09 at €1.01 across 4,000 shares while the shares of MaltaPost p.l.c. traded flat at €0.72 across 5,500 shares. U.K. - Market News & Gossip · The FT writes how Ofgem has warned that the UK gas market faces a ‘cliff-edge’ in 2015-2016 as the UK could see gas supplies running short as it sees risks in the way the current market is structured. · While National Grid is due to meet with its unions tomorrow to avert potential strike action which at this time could result in power outages in parts of the already stretched power grid. · Reports suggests that Ferrero has now ceased talks with Hershey and will not proceed for a bid for Cadbury. E.U. - Market News & Gossip · Heineken stays in the focus after its FEMSA Mexican deal announced yesterday. · The French government is attempting to pressure Renault from producing a new model abroad. · Ferrero will be eyed after reports it has walked away from a possible move for Cadbury. · Fondiaria-Sai stays in the news after it gained to short term highs yesterday after reports of interest from Axa. · Spanish press writes that major shareholders in Repsol have been lobbying to have the chairman replaced. · Spyker states that it is still in talks with GM over the Saab unit and sees a resolution in days not weeks. · Permira a major shareholder in freenet states that it is to place its remaining 10.1% in the company on the market, with a value of around €119m. U.S. - Market News & Gossip · Google is in the news as it warns it may quit the Chinese market citing its concerns over the ongoing censorship on its searches and after “extremely effective” hacks of Google email accounts of Chinese users has led to the arrest of several Chinese ‘activists’, the news has buoyed its local rival Baidu.com which gained some 2% after hours on the news. · President Obama is expected to detail tomorrow his plans to raise around $120bn form major US financial firms to help cover he expected losses from the bailout. · Kraft stays in the news as Ferrero is reportedly not interested in a move with Hershey for Cadbury, and after Nestle ruling itself out of the running it leaves just Hershey as a potential standalone rival. · Oil has given up some of the recent strong gains and is now trading back under $80 as US inventories data cools the recent buying momentum. · Midday today the Economy Minister of Iceland states that the delay in the IMF programme could mean lower growth and a need. |
More Financial news
MSE Index ends in negative terrain
Shares of Middlesea Insurance p.l.c. extend rally
Four gainers recorded at Garrison Chapel
Major banking stocks extend rally
MSE Index continues to gain
HSBC Bank Malta p.l.c. takes the podium
MSI p.l.c. shares in the spotlight again
Middlesea insurance shares extend rally
MSE Index ends the session marginally higher
Local market starts 2010 on a positive note
A pretty flat picture at Garrison Chapel
Local market remains in positive terrain
Four gainers recorded
A positive day at Garrison Chapel
Main banking stocks register a decline