BOV closes at a 2014 low

The share price of Bank of Valletta plc eased by 0.8% during this morning’s session to close at a new 2014 low of €2.36 on high volumes totalling 62,989 shares.

Similarly, the equity of HSBC Bank Malta plc touched an intra-day low of €2.411 (just above its 2014 low of €2.40) before partially recovering to end the session 0.6% lower at the €2.45 level on volumes of 28,935 shares. The equity is still trading with the entitlement to the final gross dividend of €0.052 per share and will turn ex-dividend as from Thursday 13 March. Moreover, shareholders as at the close of trading on 24 April will also be entitled to a 1 for 9 bonus share issue.

Also in the financial sector, FIMBank plc retreated by 0.2% to a fresh 2014 low of US$0.888 on a deal of 2,000 shares. The trade finance specialist is scheduled to publish its 2013 full-year results on 11 March.

GO plc shares also ranked amongst today’s negative performers with a 0.2% drop back to the €2.094 level on volumes of 6,000 shares.

The only other active equity today was Lombard Bank Malta plc with 700 shares changing hands at the €1.839 level representing a 2.2% rise over the previous close. The Bank is expected to reveal its 2013 figures on 14 March.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 1,027.774 points despite the drop in the benchmark 10-year Eurozone yields to the 1.571% level amid the rising threats of a war between Ukraine and Russia. This has also impacted sentiment across equity markets with the major indices around the globe suffering drops of more than 2%.