BOV shares continue to edge higher

The share price of Bank of Valletta plc edged a further 0.4 per cent higher to regain the €2.27 level for the first time in a month on volumes of just over 20,800 shares.

BOV's equity trended higher this week as demand for the bank's shares increased ahead of the full-year results publication on October 26.

A single trade of 1,000 Simond per cent rise over the previous close. Farsons' equity is the best performer since the start of this year with a 33.3 per cent rise mainly reflecting the record profitability of €3.78 million with respect to the six months ended July 31.

Meanwhile, HSBC Bank Malta plc eased lower for the second consecutive session with a further 0.5 per cent drop to €2.75,5 across two trades totalling 4,356 shares.

All other active equities today ended the session unchanged. GO plc held on to its eight-week high of 99c on a single trade of 3,000 shares and Malta International Airport plc maintained the €1.75 level on low volumes of 1,200 shares.

Meanwhile, Lombard Bank Malta plc shares failed to recover from its multi-year low of €1.80 as a further 1,497 shares traded at this level.

On the bond market, the Rizzo Farrugia MGS Index shed a further 0.1 per cent to a new four-week low of 994.936 points in line with the extended surge in Eurozone yields which hit a new four-week high of 1.661 per cent.

The rise in yields reflects the prevailing optimism over Spain which managed to sell a further €4.6 billion of sovereign bonds at lower yields than the previous auctions.

Markets are now focused on a two-day summit of EU leaders which started this morning although many analysts do not expect any major decisions to be taken.

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