BOV’s equity regains the €2.25 level

The MSE Share Index advanced by 0.2% to 3,323.447 points as two of the large caps partly recovered from recent declines. The share price of Bank of Valletta plc gained a further 0.9% to close at the €2.25 level on volumes of 18,314 shares. Earlier this week, BOV’s equity had declined to a low of €2.19. Investors now await the publication of the results of the Asset Quality Review by the European Central Bank on 26 October and the publication of the September 2014 full-year financial statements by BOV on Friday 31 October. Meanwhile, HSBC Bank Malta plc remained inactive despite new buyers entering the market above the last traded price of €1.93.

Following the 0.8% drop to a new all-time low of €0.595 yesterday, International Hotel Investments plc regained the €0.60 level on a single trade of only 3,828 shares.

Malta International Airport plc shed 0.9% to the €2.32 level on activity of 6,400 shares. The other negative performer of the day was FIMBank plc with a 1.5% decline to the USD0.65 level.

Three other equities closed the day unchanged. Medserv plc maintained yesterday’s 1.5% gain as a further 50,800 shares traded at the €1.32 level. GO plc traded again at the multi-year high of €2.68 on very low volumes of 361 shares. Reuters yesterday reported that Greece’s largest telecoms group ΟΤΕ secured a deal to broadcast all UEFA Champions League and UEFA Europa League matches for three years from July 2015 as it seeks to boost its Pay-TV market share. A few months ago, OTE had submitted an offer to acquire Forthnet’s Pay-TV business Nova for €250 to €300 million.

Elsewhere, Malita Investments plc maintained its all-time high of €0.56 as a further 10,000 shares traded at this level.

On the bond market, the Rizzo Farrugia MGS Index rose to yet another all-time high of 1,094.038 points as the Central Bank of Malta stockbroker increased its bid prices markedly of all medium and long-term Malta Government Stocks in reaction to the continued decline in eurozone yields which dropped to new lows of 0.716% earlier on today.

Earlier this week the Treasury announced the issue of 2 new institutional tranches of Malta Government Stocks for a total aggregate amount of €40 million with an over-allotment option of a further €35 million which are only available through an auction process for a minimum of €250,000 per application and in multiples of €50,000. Applications in the form of sealed bids will be accepted until noon on Friday 24 October.