BOV’s share price reverses gains

The share price of Bank of Valletta plc lost the gains that accumulated in previous days as lack of support for the equity at €2.13 forced the price to close today’s session 1.4% lower at €2.10 on volumes totalling 22,650 shares. The equity closed the week 0.5% lower ahead of the publication of the Bank’s interim results due next Friday 27 April.

Meanwhile HSBC Bank Malta plc’s equity rose a further 0.2% higher today to end the week at the €2.52 level representing a weekly rise of 0.8%. Earlier this week, HSBC Malta held its Annual General Meeting during which all resolutions were approved including the final gross dividend of €0.072 per share which will be paid on 27 April.

No changes were registered in the share price of the two other active equities with over 12,000 International Hotel Investments plc shares changing hands at the €0.74 level and 4,266 Malta International Airport plc shares traded at the €1.70 level.

This week’s results announcements failed to generate any trades as the equities of RS2 Software plc, 6pm Holdings plc and Grand Harbour Marina plc remained inactive. All three companies did not recommend a dividend payment. On the other hand, RS2 and 6pm proposed a bonus share issue to shareholders. Further details on the results can be found on our website.

Overall, the MSE Share Index registered the third weekly decline in four weeks with another 0.2% drop across the last five sessions.

On the bond market, the Rizzo Farrugia MGS Index was practically unchanged today at 985.665 points representing a weekly increase of 0.1%. This week’s upturn partially reflects this morning’s downturn in eurozone yields to near-record lows of 1.678%. Earlier this afternoon, the Malta Stock Exchange announced the listing of the €40 million 4.25% Bank of Valletta plc notes 2019 following the recent primary market offering.