BOV share price up 7.5% this week

Although the share price of Bank of Valletta plc closed 1.6% lower today at €3.60 on the last day to gain entitlement to the final gross dividend of €0.16 per share, the equity ended the week with a gain of 7.5%. Over 210,000 shares were exchanged this week for a value of €0.79 million as the market responded positively to the strong set of financial results published last Friday. Next Monday the shares will trade without the dividend entitlement. However the equity will still be trading with the entitlement to the 1 for 5 bonus share issue which will become effective early next year.

The top performer of the week was Lombard Bank Malta plc with a gain of 10.8% as buoyant investor sentiment surrounding BOV spilled over onto the equities of the other local banks. Trading activity in Lombard was also high totalling 51,943 shares this week.

Meanwhile after a positive upturn on Monday, the share price of HSBC Bank Malta plc closed lower during each of the final 3 sessions of the week but still managed a 3.5% rise over the past five sessions.

The only two positive performers of the day were GO plc and Malta International Airport plc which both gained 0.5% each. Activity in MIA shares was low despite yesterday’s announcement of a rise of 18.4% in passenger numbers last month.

On the bond market, Malta Government Stock prices increased reflecting the drop in the 10-year eurozone yield. Following the announcement of the prices of the two new Malta Government Stock issues (the 3.75% MGS 2015 at 103.50% and the 5.25% MGS 2030 at 101.50%), the subscription period will take place between next Monday 8 November and Wednesday 10 November.

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