Further decline in BOV drags MSE Share Index lower

Bank of Valletta plc’s equity slipped a further 1.4% lower today dropping back to the €2.12 level across seven trades totalling just over 9,300 shares. This month marks the end of the bank’s half-year with the interim results generally published by the end of April.

The downturn in BOV’s share price was the main reason for the fourth consecutive decline in the MSE Share Index with a further 0.4% drop to a new 33-month low of 2,937.230 points.

HSBC Bank Malta plc also closed in negative territory with a marginal 0.2% decline to the €2.515 level across three trades totalling 5,800 shares. The Bank is scheduled to hold its Annual General Meeting on 18 April.

Grand Harbour Marina plc hit a new 1-year low of €1.898 as the equity was active for the first time since January. A single trade of 2,100 shares was transacted today with no further bids in sight.

The only other active equity, GO plc, held on to the €0.80 level also on a single deal of 2,500 shares. The quad play telecom operator is scheduled to hold its Annual general Meeting on 9 May.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 982.124 points reflecting the decline in Eurozone yields back to the 1.82% level despite yesterday’s comforting comments by Germany’s Angela Merkel and Italy’s Mario Monti. The two EU leaders yesterday stated that the Eurozone is slowly resolving its sovereign debt crisis.