Bank of Valletta plc’s share price lost a further 2.3% today to a new 11-month low of €2.60 on increased volumes totalling in excess of 34,000 shares. Selling pressure in the equity intensified at the start of today’s trading session following the penalty imposed by the Malta Financial Services Authority on the Bank and its subsidiary Valletta Fund Management with respect to the investigation on the La Valette Multi-Manager Property Fund. However, during the latter stages of the session, renewed demand entered the market with bids already placed at the €2.62 level while lowest offers are placed at €2.65. BOV’s equity closed the week 5% lower and the year-to-date performance now stands at -19.1%.
Three other equities were active today. The share price of GO plc edged minimally higher this morning to close at the €1.365 level but still ended the week 0.4% lower. Meanwhile a marginal recovery was also registered in the share price of Forthnet as the equity regained the €0.33 level after touching an all-time low of €0.29 during yesterday’s session.
Malta International Airport plc held on to the €1.73 level across three trades amounting to 15,900 shares. The equity of the airport operator closed the week marginally lower.
Likewise, a further 4,900 shares of RS2 Software plc shares changed hands today at the €0.53 level helping the equity sustain the gains of 6.2% registered earlier this week. Similarly, the Sterling denominated equity of 6pm Holdings plc also closed the week 6% higher after trading at a new all-time low of GBP0.28.
Overall, the MSE Share Index ended the week 1.4% lower at a new 1-month low of 3,326.047 points following the 5.1% drop in BOV and the declines in the larger cap equities which offset the positive performances in the smaller sized listings.
On the other hand, the Rizzo Farrugia MGS Index closed this week 0.2% higher as the benchmark Eurozone yields dropped below the 3% level following increasing speculation of a debt restructuring by Greece.