BOV share price at 5-month high

The recent volatility seen in the share price of Bank of Valletta plc persisted during this morning’s trading session as the equity jumped by 3.3% to close at a new 5-month high of €2.18 across eight trades totalling 20,967 shares. BOV’s financial year comes to an end on 30 September and the full-year results are generally a month later.

HSBC Bank Malta plc also closed in positive territory today albeit with only a 0.3% increase to the €2.64 level on a single trade of 1,000 shares. Meanwhile, FIMBank plc’s share price retreated a further 3.6% lower across 3,000 shares as investors await the Bank’s half-year results publication as well as further developments with respect to the potential takeover by Burgan Bank.

Elsewhere in the local equity market, Simonds Farsons Cisk plc edged 1% higher to regain the €2.05 level on volumes of 5,942 shares. The equity currently ranks as the best performer this year with a 13.9% jump since the start of 2012 following the record financial results registered during the twelve months ended 31 January 2012. Investors now await the Group’s half-year results which are generally published in September.

The only other two active equities, namely GO plc and Malta International Airport plc, closed this morning’s session unchanged at €1.00 and €1.74 respectively.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 996.148 points as eurozone yields retreated back to the 1.50% caused by renewed uncertainty over the European Central Bank’s actions to counteract the prevailing sovereign debt crisis in the region. The price of the 5.10% MGS 2029 regained its record level of 103.50%.

The Treasury yesterday announced the issuance of €50 million, with an over-allotment option of a further €25 million, in two new floating rate Malta Government Stocks. However the new issues are only available to those investors wishing to apply for a minimum of €250,000 (nominal). The offer closes at noon on Friday 31 August.