BOV builds on recent gains ahead of results

The equity of Bank of Valletta plc continued to build on the gains registered during the past two weeks ahead of the publication of the interim results due on Friday 25 April. BOV’s share price advanced by a further 1.3% to regain the €2.33 level on volumes of 22,285 shares.

The only other positive performing equity was Malita Investments plc with a 0.9% increase to the €0.54 level on a single deal of 1,200 shares. On the other hand, the share price of Simonds Farsons Cisk plc fell 2.3% from its all-time high of €3.00 to the €2.93 level on a deal of 1,685 shares.

Meanwhile, no change was registered in the share price of HSBC Bank Malta plc as a further 44,760 shares changed hands at the €2.38 level. The Bank is scheduled to hold its Annual General Meeting this Wednesday 16 April.

Similarly, International Hotel Investments plc held on to the €0.83 level on volumes of 4,200 shares. Last week, the equity of IHI advanced by 5.7% after the Company issued an announcement relating to the declaration of a net interim dividend of €0.03 per share (to all shareholders as at the close of trading on Monday 28 April). The announcement also revealed that IHI (through its 50% owned subsidiary NLI Holdings Ltd) managed to sell 11 out of the 12 London apartments for an undisclosed consideration.

Amongst the large cap equities, Malta International Airport plc shares also traded unchanged at the €2.32 level on just 1,555 shares.

Likewise, Medserv plc continued to trade at the €1.30 level across four deals totalling 13,150 shares. The only other active equity was Middlesea Insurance plc which maintained the €0.91 level across 2,864 shares.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to a new all-time high of 1,031.637 points as Eurozone yields slumped back to the 1.5% level amid rising tensions in Eastern Ukraine and increasing speculation on further stimulus by the European Central Bank.