The share price of Bank of Valletta plc reversed yesterday’s 0.5% drop with an equivalent increase during this morning’s session to close at the €2.08 level. However, almost 75% of the total volumes that passed through the market today amounting to 241,247 shares were exchanged at a fresh 7-month low of €2.055. The Bank is scheduled to pay the recently declared interim gross dividend of €0.06 per share on Thursday 24 May.
GO plc also closed in positive territory today with the share price recovering from an intra-day low of €0.83 to end this morning’s session 1.2% higher at the €0.86 level. A total of ten trades totalling 31,137 shares were executed. Following today’s increase, GO’s equity has risen by 17.8% since the quad play telecom operator held its Annual General Meeting during which it announced a new Special Purpose Vehicle (SPV) holding the Group’s properties valued at €50 million. The SPV will seek to extract the best value from the properties within its portfolio.
The only other active equity, HSBC Bank Malta plc again traded unchanged at the €2.50 level on volumes of 34,760 shares.
On the bond market, the Rizzo Farrugia MGS Index closed marginally unchanged at 988.710 points as Eurozone yields floated around the 1.46% level as the markets await new measures from European leaders to foster growth in the euro zone and restore market confidence. Eurozone leaders are also expected to discuss the potential issuance of euro area bonds jointly underwritten by all Eurozone member states – an idea which is being opposed by Germany. In the meantime, concerns still remain in respect of the potential euro exit by Greece following the country’s general elections expected to be held next month.