BOV shares unchanged at €2.251

The share price of Bank of Valletta plc again failed to hold on to a new 20-month high of €2.27 during this morning’s trading session to close unchanged at the €2.251 level across 30,470 shares. This morning the Bank confirmed that it has paid out additional compensation to a number of investors in the La Valette Property Multi-Manager Property Fund following a file review of all investors in the fund. However, the announcement explained that this additional payment will not have any material adverse effect on the financials of the current financial year ending 30 September 2013 as the necessary provisions were accounted for during the previous financial year.

On the other hand, GO plc edged 0.4% higher to yet another 17-month high of €1.285 across two deals totalling 8,000 shares. Similarly, MaltaPost plc climbed 2.1% to regain the €0.97 level on increased volumes of 33,339 shares.

High volumes were registered also in the property related equities with 50,000 MIDI plc shares trading unchanged at the €0.28 level while 30,000 Plaza Centres plc shares were executed at the €0.55 level, also unchanged from the previous closing price.

Meanwhile, shallow trading activity was evident in Malta International Airport plc despite yesterday’s announcement that the airport operator is expecting a 1.5% increase in passenger movements in 2013 compared to the 2012 all-time record of 3.65 million passenger movements. The latter represented a 4.1% increase over the 2011 passenger figures.

On the bond market, the Rizzo Farrugia MGS Index edged 0.2% higher to reach a new 27-month high of 1,010.793 points as Eurozone yields drifted back to the 1.57% level as demand for peripheral bonds continued to outweigh interest in Bunds which are considered ‘safe-haven’ assets. This was confirmed by the strong demand for today’s bond auction by Portugal similar to the successes registered by Spain and Italy.