BOV’s share price continues to recover

Further demand for Bank of Valletta plc shares helped the equity rise for the second consecutive session. The share price regained the €2.73 level representing a 1.1% rise from the previous close. Almost 16,300 shares exchanged today with further bids unsatisfied at the closing price. Investors in the La Valette Multi-Manager Property Fund have until 30 June to reply to the Bank’s offer of €0.75 per share.

Meanwhile HSBC Bank Malta plc declined by 0.8% back to the €2.96 level as the Bank’s shares traded for the first time in a week. Only 2,600 shares traded today.

Middlesea Insurance plc also closed in negative territory as the market awaits details with respect to the acquisition of Munich Re’s shareholding by Mapfre Internacional and the subsequent mandatory bid to all other shareholders. This had originally been announced on 29 April but no further updates have been issued since then.

The share price of the quad-play telecoms operator, GO plc, closed minimally lower at €1.369 after recovering from an intraday low of €1.32 across nine trades totalling 8,520 shares. GO is scheduled to hold its Annual General Meeting on Friday 8 June. Meanwhile the share price of the Greek company Forthnet yesterday touched a new all-time low of €0.33 on high trading activity in the company’s shares.

For the first time since listing in December 2010, the shares MIDI plc end the trading session in positive territory. MIDI’s share price closed 7.1% higher at the €0.439 level across seven trades amounting to 50,000 shares. Later on this afternoon, MIDI is scheduled to hold its Annual General Meeting.