BOV reverses this week’s gains

The share price of Bank of Valletta plc was heading for a weekly increase before dropping back to the €2.25 level during the final minutes of the session to close unchanged.

Meanwhile, HSBC Bank Malta plc ended the week 0.6% higher as this morning’s 0.4% drop to the €2.736 level on volumes of 9,186 shares only partially offset the gains registered in the earlier part of the week.

Similarly, Malta International Airport plc ended this week in positive territory despite trimming some of its recent gains with a 1.5% decline during this morning’s session back to the €1.86 level on a single deal of 3,000 shares.

On the other hand, GO plc trended higher for the second consecutive session with a further 1.9% increase to the €1.599 level – the equity’s highest closing price in 2 years – across sixteen trades totalling 84,730 shares. Next Tuesday is the final session for investors to gain entitlement to the net dividend of €0.10 per share.

The share price of RS2 Software plc edged 2.2% higher to a new record of €0.92 on volumes of 8,300 shares. This equity is up 1.1% this week.

A small trade of 500 Middlesea Insurance plc shares (active for the first time this week) was transacted at the €0.86 level representing a 7.5% increase over the previous close. Meanwhile, Lombard Bank Malta plc traded for the first time without the entitlement to the dividend with 4,000 shares changing hands at €2.00.

No changes were registered in the share prices of the two other active equities with International Hotel Investments plc holding on to the €0.775 level across 20,100 shares and Crimsonwing plc maintaining the €0.57 level on a deal of 5,200 shares.

On the bond market, the Rizzo Farrugia MGS Index edged a further 0.1% higher to yet another 29-month high of 1,016.849 points as Eurozone yields slid to a new 7-month low of 1.249% on the back of the developments in Cyprus. However, by this afternoon, yields on German recovered marginally to 1.276% as there was no evidence of a bank panic to the extent that was originally expected.