Volatile session for BOV shares

Volatility across Bank of Valletta plc shares was evident during this morning’s trading session ahead of the banks full-year results publication later on this month. BOV’s share price opened today’s session unchanged at €2.19 before dropping to this morning’s low of €2.15. The equity then recovered to the €2.20 level but this was short-lived as BOV’s share price slid back to the €2.15 level representing a 1.8% drop from the previous close. A total of 43,403 shares changed hands today across sixteen trades.

The dip in BOV’s share price led to a 0.4% drop in the MSE Share Index to 3,129.650 points – the lowest level since 27 September.

Elsewhere in the local equity market, Simonds Farsons Cisk plc reached yet another 4-year high reflecting the renewed demand for the equity on the back of record profits of €3.78 million for the first six months of the current financial year ending 31 January 2013. Farsons’ share price advanced by a further 0.9% to the €2.32 level on volumes of 4,128 shares.

Meanwhile, MaltaPost plc eased 0.1% lower to €.709 across three trades totalling 4,100 shares. The postal operator generally publishes its full-year results in early December.

The other three active equities, namely Malta International Airport plc, GO plc and Medserv plc, all closed unchanged on marginal volumes.

On the bond market, the Rizzo Farrugia MGS Index eased marginally lower for the third successive session to 996.692 points as Eurozone yields traded just below the 1.50% level ahead of a meeting of EU finance ministers later on today. Amongst the items on the agenda, the finance ministers are expected to discuss the possible bailout request from Spain although many commentators are already predicting that no significant progress will be achieved in this respect.