Following two consecutive sessions of heavy declines, the share price of Bank of Valletta rebounded by 1.4 per cent during this morning’s session to regain the €2.23,1 level across 18 deals totalling 45,890 shares.

The bank’s share price lost 7.9 per cent in the two trading sessions following last Thursday’s announcement revealing that legal proceedings have been instituted against it before an Italian Court whereby BOV is being requested to pay a sum of up to €363 million.

The bank has received a legal opinion clearly stating that there is no basis at law for the claim being made before the Italian Court and that the bank should reject the claim against it as completely unfounded.

BOV confirmed that further announcements will be made in the event of any significant developments in this respect. Meanwhile, the bank generally publishes its half-year results, covering the six months ended March 31, by the end of April.

Elsewhere, three other equities performed positively with two touching new all-time highs. The share price of Medserv touched a new all-time high of €2 before easing back to close the session at the €1.98 level which still represents a 3.6 per cent increase from the previous closing price.

A total of 6,200 shares changed hands today across three deals.

Likewise, the share price of Simonds Farsons Cisk opened the day at a fresh all-time high of €3.30,1 before easing to the €3.27 level representing a 2.2 per cent rise from the previous close price on volumes of 3,108 shares.

Similarly, MaltaPost edged 0.1 per cent higher on just 582 shares to close at the €1.42,2 level, minimally below its all-time high of €1.42,5.

On the other hand, a number of equities closed lower including HSBC which dropped for the third consecutive day. The bank’s equity slipped by a further 0.5 per cent to €2.03,9 across nine trades totalling 13,270 shares.

GO’s share price also shed 1.1 per cent to fall back to the €2.84 level across three deals totalling 10,000 shares. Similarly, Malta International Airport eased minimally lower to €3.49,9 on just 797 shares.

Meanwhile, Middlesea Insurance maintained the €1.20 level on a single trade of 3,703 shares and MIDI held on to the 27c level across 110,000 shares. Malita Investments shares also ended the session unchanged at the 97c level after failing to hold on to a fresh all-time high of 99c across three deals totalling 14,500 shares.

This afternoon, Tigné Mall published its 2014 financial statements revealing a 23 per cent increase in pre-tax profits to €2.32 million on the back of increased revenue (continued growth in footfall and tenant sales) and declining net interest expenses (on further debt repayments).

The directors also noted that the results exceeded the company’s projections with pre-tax profits coming in 6.3 per cent above the projected pre-tax profit figure of €2.18 million published in the IPO prospectus dated March 20.

The directors recommended an unchanged final net dividend of 1c25 per share to all shareholders as at close of trading on May 7.

On the bond market, the Rizzo Farrugia MGS Index edged 0.1 per cent higher to yet another all-time high of 1,174.880 points as the benchmark 10-year Eurozone yields remained under pressure.

In fact, by this afternoon, 10-year Bund yields reached a new all-time low of 0.145 per cent.

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