Strong demand for BOV shares despite trading ex-dividend

Bank of Valletta plc recovered some of yesterday’s 4.2% drop as its share price climbed 2% this morning back to the €3.52 level. Although the shares are trading without the entitlement to the final net dividend of €0.104 per share, strong demand for this equity was evident as the market opened this morning. Over 54,200 shares were exchanged today with further bids remaining unsatisfied at the €3.52 level and lowest offers now placed at €3.55. Investors acquiring shares until 7 January 2011 will be entitled to the 1 for 5 bonus share isse.

The renewed demand for BOV shares also helped the equity of HSBC Bank Malta plc to close higher for the first time in five sessions. HSBC’s share price edged 1% higher to the €2.899 level across six trades totalling 6,236 shares.

All other active equities traded unchanged. GO plc and International Hotel Investments plc maintained the €1.88 and the €0.77 levels respectively despite both recently announcing further improvements in their financial performances during the third quarter. Also, Middlesea Insurance plc and Plaza Centres plc also maintained their levels of €1.00 and €1.70 respectively.

On the bond market, the focus remains the new Malta Government Stock issues. Investors wishing to apply for a maximum of €100,000 (nom) have until tomorrow to submit their applications. Further details available at https://rizzofarrugia.com/news-events/2010/pricing-of-new-mgs-issues-mgs14/. Meanwhile on the secondary market, the recently issued three year bonds of FIMBank plc denominated in euro and US Dollar have today been admitted to the Official List. Trading in these two bonds is expected to commence as from tomorrow.

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