Following yesterday’s 1.2% decline, the share price of Bank of Valletta plc dropped by a further 2.1% today to €3.30 on high trading activity amounting to over 43,000 shares.

BOV’s share price has dropped from a high of €3.45 on Tuesday as investors reacted negatively to the announcement of Middlesea Insurance plc yesterday afternoon that it incurred a loss of €54.4 million in 2009 largely as a result of the write-off of the investment in the Italian company Progress Assicurazioni.

HSBC Bank Malta plc also closed in negative territory. The share price declined marginally to €3.077 on lower volumes of 9,300 shares.

While the two large banks closed lower, the share price of Lombard Bank Malta plc gained 0.5% to €2.945. 5,800 shares traded today with further offers remaining unsatisfied at the closing price.

The only other active equity, RS2 Software plc, continued to trade at the €0.48 level. Only 1,000 shares traded during this morning’s session with offers of a further 1,800 shares unsatisfied at this level. The shares are still trading with the entitlement to the net dividend of €0.022 per share.

On the bond market, Malta Government Stock prices dropped from their record levels yesterday. Meanwhile the 6.8% Premier Capital plc bonds rose 40 basis points to a new high of 102%.

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