The share price of Bank of Valletta plc jumped by 5.2 per cent today to regain the €2.42 level on volumes of 28,122 shares.
The equity has been recovering from its recent low of €2.18 ahead of the interim results publication due by the end of April.
Similarly, HSBC Bank Malta plc edged 1.3 per cent higher to recapture the €2.38 level across four deals totalling just over 6,000 shares.
Yesterday evening, Tigné Mall plc published its first set of annual results since listing its shares on the official list of the Malta Stock Exchange in May 2013.
The 2013 financial statements showed a pre-tax profit of €1.9 million representing a 71.6 per cent increase over the previous year’s figure and 12 per cent higher than the projections that had been presented in the IPO Prospectus dated March 20, 2013.
The company managed to exceed its forecasts mainly due to the higher than anticipated revenues of just over €5 million on the back of better-than-expected increases in footfall and tenant sales.
Additionally, net interest payable dropped by 21.7 per cent to €1.3 million as the company has been able to anticipate its bank repayment commitments.
The directors recommended a final net dividend of 1c25 per share which also exceeded the company’s forecasts in this respect.
All shareholders as at the close of trading on May 15 are eligible to receive this dividend on June 23 subject to shareholder approval at the next annual general meeting scheduled to be held on June 19.
Following the publication of the 2013 results, the share price of Tigné Mall edged 1.6 per cent higher to a new 2014 high of 52c3 on a single trade of 50,000 shares.
Likewise, the equity of GO plc also reversed some of its recent declines as the share price of the telecoms quad-play operator rebounded from an intra-day low of €1.90 to end the session 2.6 per cent above yesterday’s close at the €1.96 level on volumes of just over 51,000 shares.
Plaza Centres plc also performed positively as 9,140 shares changed hands at the 60c level representing a 2.6 per cent increase over the previous closing price.
On the other hand, the share price of Middlesea Insurance plc slipped 4.2 per cent back to the 91c level on a single trade of 1,000 shares.
On the bond market, the Rizzo Farrugia MGS Index eased minimally lower to 1,028.679 points as yields slightly recovered from recent declines which were largely caused by recent remarks from the European Central Bank President Mario Draghi that the ECB stands ready to implement new quantitative easing measures in the near future if needed.
www.rizzofarrugia.com