Increase in equity volumes
Similar to the trend evident in the last two weeks, trading volumes during the first session of the week increased. Over €400,000 worth of shares changed hands today with Bank of Valletta plc shares accounting for 38.1% of total activity.
BOV's share price recovered from an intra-day low of €2.45 to close this morning's trading session at the €2.47 level representing a 0.4% increase from the previous close. A total of nine trades comprising 62,602 shares were transacted today ahead of the dividend cut-off date next Wednesday 14 November. Likewise, the share price of HSBC Bank Malta plc edged €0.01 higher to close at the €2.66 level on volumes of 25,800 shares. Meanwhile, Lombard Bank Malta plc continued to trade at its multi-year low of €1.80 as a further 3,775 shares changed hands.
High volumes were registered in Plaza Centres plc as 170,000 shares changed hands in a single deal at the €0.52 level, representing a 1.9% drop from the previous closing price. This morning, the Company announced that one of its largest shareholders, HSBC Global Asset Management Ltd reduced its stake in the Company from 10.88% to 8.5%.
A deal of 48,000 Malta International Airport plc shares was executed at the €1.76 level representing a 0.6% increase over the previous closing price. Last week, the airport operator revealed a further 0.6% increase in passenger movements during the month of October to 348,711 passengers. Following the seventh monthly record in passenger traffic, MIA revised its 2012 passenger growth forecast upwards for the second time this year to 3% which will lead to the third consecutive annual record passenger numbers of over 3.6 million.
Only 1,600 MaltaPost plc shares changed hands today with the share price easing 0.7% lower to the €0.73 level. The postal operator generally publishes its full-year results in early December.
On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 999.470 points as eurozone yields remained around their multi-week lows of 1.35%. Demand for sovereign bonds remained buoyant given investors' flight to safety in view of the prevailing concerns over Greece and the US fiscal cliff.
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