The MSE Share Index edged 0.5 per cent higher to 3,313.600 points today largely due to the 1.9 per cent uplift in the share price of Bank of Valletta plc to recapture the €2.20,1 level for the first time in four months.
A total of 26,942 shares changed hands across 11 deals. This month marks the end of the group’s financial year with the preliminary results generally published by the end of October.
This year the publication of the financial statements will also coincide with the publication of the results of the asset quality review and stress tests undertaken by the European Central Bank across 131 systematically important banks across Europe in anticipation of assuming its role as the single supervisor of such banks.
The results will not only establish the financial and capital position of each bank but will also make recommendations on how each bank should strengthen its balance sheet.
The only other positive performing equity was Simonds Farsons Cisk plc with a 0.4 per cent rise to regain the €2.71 level on shallow volumes of 394 shares.
Meanwhile, the equity of GO plc recovered from an intra-day low of €2.44 to end the session unchanged at the €2.48,9 level across 6,000 shares. Similarly, a single trade of 4,207 shares of International Hotel Investments plc was transacted at the 64c level, unchanged from the previous closing price.
Higher volumes were seen in Malita Investments plc as the property-related equity held on to the 55c level across three deals totalling 108,500 shares. The company is scheduled to pay its recently declared gross interim dividend of 1c5 per share on September 12.
On the bond market, the Rizzo Farrugia MGS Index eased marginally lower for the first time in the last two weeks with a 0.1 per cent drop to 1,076.911 points as benchmark Eurozone yields rebounded to the 0.92 per cent level on some profit-taking following the recent rally in Europe’s bond markets.
The European Central Bank is expected to hold its monthly monetary policy meeting on Thursday.
www.rizzofarrugia.com