BOV’s share price again in negative territory

Following yesterday’s 0.8% decline to a 2-year low of €2.43, the share price of Bank of Valletta plc lost a further 0.6% today to close at €2.415 after touching an intra-day low of €2.40. Volumes increased to over 52,000 shares with the market now awaiting next Friday’s publication of the preliminary full-year results covering the financial year ended 30 September 2011.

Meanwhile HSBC Bank Malta plc reversed yesterday’s decline as its share price was lifted 1.1% higher to regain the €2.66 level across four trades totalling just over 6,800 shares. The Bank generally publishes its Interim Directors’ Statement by mid-November updating the market on its performance since the half-year end of 30 June.

MIDI plc shares were active for the first time in almost a month as 3,000 shares changed hands at the equity’s all-time low of €0.39 representing a 6% drop from the previous closing price.

Elsewhere in the local equity market, minimal increases were registered in the share prices of International Hotel Investments plc and GO plc to €0.81 and €1.005 respectively. Following the high volumes of 42,000 shares that changed hands yesterday, almost 18,000 shares traded this morning all at €1.005.

On the bond market, the Rizzo Farrugia MGS Index shed 0.2% to 982.107 points as Eurozone yields regained the 2.14% ahead of the EU summit being held tomorrow. During this meeting, EU leaders are expected to agree upon a solution on the region’s sovereign debt crisis which will probably include a significant haircut on Greek debt and a recapitalisation programme for European banks.