BOV regains the €2.23 level

Trading activity across the equity market during the final day of October was weak as the session was shortened due to technical problems. The MSE Share Index gained 0.3% to 3,304.642 points as a result of the upturn in BOV while the other four active equities closed unchanged.

Bank of Valletta plc advanced by 1.4% to regain the €2.23 level on continued weak volumes of 18,254 shares as the market awaited the publication of the September 2014 full-year financial statements. These were published shortly after the close of the trading session. BOV reported a 10% decline in pre-tax profits to €104 million. The Directors recommended the payment of a final gross dividend of €0.0925 per share (final net dividend of €0.0601 per share), representing a decline of 21% compared to the final dividend of last year. This year’s final dividend is payable to those shareholders as at close of trading on Thursday 13 November. Moreover, a bonus share issue of 1 new share for every 11 shares held will be allotted to shareholders as at close of trading on 14 January 2015.

HSBC Bank Malta plc held on to the €1.97 level on a single trade of 2,173 shares. The other active equities today were Malta International Airport plc (15,000 shares at €2.33), Lombard Bank Malta plc (1,000 shares at €1.75) and 6pm Holdings plc (500 shares at GBP0.72).

In the coming weeks, most companies will be issuing their Interim Directors’ Statements explaining the performance since the publication of the June half-year results.

On the bond market, the Rizzo Farrugia MGS Index recovered to 1,093.070 points as Eurozone benchmark yields dropped back to the 0.84% level. Last night, the Bank of Japan unexpectedly increased its target for monetary stimulus leading to a rally across equity and bond markets.