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BOV share price closes at new 2010 high

The share price of Bank of Valletta plc gained 1.1 per cent this morning closing the week at a new 2010 high of €3.81 on increased demand for these shares in anticipation of the one for five bonus issue which was approved at yesterday’s annual general meeting.

Investors have until January 7 to gain entitlement to the bonus share issue.

Yesterday shareholders also approved the distribution of a final net dividend of €0.10,4 per share which was paid to shareholders today. Almost 29,000 shares change hands today with lowest offers now available at the €3.85 level.

HSBC Bank Malta plc’s equity held on to the strong gains of 5.8 per cent of the past three sessions as a further 28,000 shares trade at the €3.10 level.

During the past four trading sessions over 98,000 shares changed hands on intensified demand in anticipation of the full-year results publication due by the end of February.

The gains by HSBC and BOV helped the MSE Share Index to close this shortened week 1.5 per cent higher at 3,557.173 points – the highest level since August 2. While HSBC and BOV closed higher, GO plc and International Hotel Investments plc declined by 1.3 per cent and one per cent, respectively, this week.

The worst performing equity was Island Hotels Group Holdings plc as lack of support for the shares resulted in a decline of a further 11.1 per cent today to a fresh all-time low of €0.80.The share price of IHG tumbled by 15.7 per cent this week.

Middlesea Insurance plc recovered some of yesterday’s 4.3 per cent drop as its share price edged two per cent higher this morning to regain the €1.02 level on volumes amounting to 10,810 shares.

Elsewhere in the banking sector, FIMBank plc closed the week 1.1 per cent higher with Lombard Bank Malta plc easing by 0.35 per cent to €2.56,1.

Volumes in FIMBank’s equity increased to 184,000 shares during the past four trading sessions.

www.rizzofarrugia.com

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