BOV up ahead of results publication

During this morning’s trading session on the Borza, the MSE Share Index recovered by 0.4% to 3,353.226 points as HSBC Bank Malta plc and Bank of Valletta plc climbed higher.

In anticipation of the publication of the 30 September full-year results and the final dividend declaration due next Friday afternoon, BOV’s equity gained 0.9% to the €3.27 level on increased volumes of over 13,600 shares. HSBC’s share price also edged 0.9% higher to the €2.795 level on volumes of 9,000 shares.

Meanwhile, following last week’s 3.7% drop, Lombard Bank Malta plc slipped a further 0.7% this morning to yet another 2010 low of €2.58 on a single trade of 2,000 shares. Following today’s downturn, the Bank’s equity is now 13.7% below its value at the beginning of the year.

Within the banking sector, FIMBank plc also closed in negative territory as its share price eased 2.1% to the US$0.93 level across four trades amounting to 15,550 shares. The trade finance specialist announced today that subscriptions for its €25 million bond issue in EUR and USD closed due to over-subscription. FIMBank will announce the allotment policy in the coming days.

The only other active equity, International Hotel Investments plc, traded unchanged at the €0.80 level across four trades amounting to over 14,000 shares.

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