The equity of Bank of Valletta plc continued to recoup some of last Wednesday’s six per cent drop. Following yesterday’s 2.4 per cent increase, the share price advanced by a further 2.7 per cent during this morning’s session to regain the €2.21 level across 10 trades totalling 23,541 shares.
Over the week, BOV’s share price slipped 3.3 per cent lower largely reflecting the adjustment for turning ex-dividend with respect to the net interim dividend of 3c9 per share. The interim dividend will now be paid on May 24.
GO plc also edged higher for the second consecutive session with a further 0.6 per cent increase to the €1.59 level across four trades totalling 8,000 shares ending the week unchanged.
GO issued its interim statement this week in which it explained that it continued to experience downward pressure on its ‘average revenue per user’ levels due to the intense competition present in the local telecommunications market.
As a result, profitability during the first quarter of 2013 is marginally below that registered during the same period last year.
MaltaPost plc gained another 0.5 per cent to reach a new two-year high of €1.06 on volumes of 10,000 shares.
The postal operator this week revealed a 30.9 per cent increase in net profits during the six months ended March 31 to €0.66 million on the back of the increased tariffs on certain postal services.
Moreover, the directors explained that the financials should show a further improvement in the second half of the financial year ending September 30 due to the introduction of higher postal tariffs on other services with effect from April 1.
Meanwhile, the postal operator is also working to diversify its revenue streams through the introduction of enhanced e-commerce services, expansion of its document management services as well as entering the insurance market once the regulatory approvals are granted.
A single trade of 1,700 FIMBank plc shares lifted the equity 1.9 per cent higher to the US$1.02 level.
On the other hand, HSBC Bank Malta plc slipped 0.4 per cent lower back to the €2.68 level on a trade of 5,500 shares. However, the bank’s equity still ended the week three per cent higher in anticipation of the publication of its interim directors’ statement.
Single trades were also executed in Malita Investments plc and RS2 Software plc. Malita shares slid 1.7 per cent lower to end the week at the 52c level which still represents a four per cent weekly rise. Similarly, RS2 shares inched minimally lower to €1.03,9 on volumes of 1,500 shares but still registered a weekly uplift of 8.2 per cent despite turning ex-dividend and ex-bonus.
On the bond market, the Rizzo Farrugia MGS Index ended the week 0.4 per cent lower (the first weekly decline in the last nine weeks) at 1,021.713 points.
This week’s decline reflects the recovery in Eurozone yields to a one-month high of 1.32 per cent on the back of increased investor risk appetite.
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