Further volatility in BOV’s share price

The equity of Bank of Valletta plc was subject to further volatility this morning as the share price advanced by 2.1% to regain the €2.20 level across five trades totalling 8,855 shares.

No other shares were active during this morning’s session as the increased volumes seen in the market last week following the initial reaction to the recently published half-year results faded away. The uplift in BOV helped the MSE Share Index rise by 0.5% to 3,059.239 points.

This afternoon, Malta International Airport plc published its traffic results for the month of August which showed an all-time monthly record of 461,153 passenger movements mainly due to the 7.5% increase in the seat load factor. Last July MIA had forecast a 1.5% growth in passenger forecast for 2012 to a new record of 3.56 million passengers. However, following the new record passenger movements during the peak summer months, MIA has so far registered a 3.7% increase in passenger movements to 2,487,903 during the first eight months of 2012.

Yesterday evening Crimsonwing plc announced that it will be holding its Annual General Meeting on 17 October.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 995.858 points as Eurozone yields retreated back to the 1.36% level this morning before a German bond auction. However, Germany only managed to sell €3.61 billion of the €5 billion 5-year paper on offer triggering a rise in benchmark Bund yields to above the 1.45% level as investors demanded a higher return. Markets now await the details of the planned bond buying programme of the European Central Bank (ECB) following the monthly monetary policy meeting scheduled for tomorrow.