During the final trading session this week, the share index advanced by 0.8 per cent to 3,766.201 points mainly due to gains in the share prices of BOV and GO.
Despite the upturn today, the equity benchmark still closed the week 1.1 per cent lower as the two retail banking equity declined.
The share price of Bank of Valletta recovered by a further 3.1 per cent today to regain the €2.30 level on activity totalling 65,356 shares following the 1.4 per cent rise yesterday.
Notwithstanding the rebound in the past two days, BOV’s equity ranks as this week’s worst performer with a decline of 3.8 per cent in reaction to the announcement issued late last week revealing that legal proceedings have been instituted against the bank 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.
GO edged 1.1 per cent higher today to regain the €2.87 level on weaker volumes totalling 4,870 shares. The equity of the telecoms operator edged 0.7 per cent higher this week although it is trading without the entitlement to the net dividend of 7c per share which will be approved by shareholders for approval at the upcoming annual general meeting scheduled for May 5.
Malta International Airport edged up marginally to regain the record level of €3.50 on continued high volumes totalling 51,050 shares. The annual general meeting will take place on May 20 to approve, among others, the payment of a final gross dividend of 12c31 per share.
MIA’s equity will trade with the entitlement to this dividend until April 16.
A single deal of 2,000 shares in 6PM Holdings was executed at the 73p level representing an increase of over the previous closing price. The market awaits news as to when the financial results for the year ended December 31 will be published.
Likewise, the shares of Plaza Centres edged 0.1 per cent higher to the 95c1 level on a single deal of 17,670 shares. Plaza’s equity will trade with the right to the final net dividend of 2c68 per share until April 23.
On the other hand, only RS2 Software ended today’s session in negative territory, slipping 0.4 per cent to €2.97,9 on a single trade of 1,000 shares. RS2 has also yet to announce the date when the 2014 financial statements will be published.
Meanwhile, MaltaPost and HSBC closed unchanged at the €1.42,2 and €2.03,9 levels respectively. HSBC was the more active of the two, with a total of 12,032 shares changing hands, while only 582 MaltaPost shares traded.
Shortly after the close of today’s trading session, MaltaPost issued a company announcement informing the market that its board is set to meet on May 8 to consider and approve the group’s interim financial statements for the six months ended March 31.
Earlier today, the Central Bank of Malta’s indicative bid prices for the Malta Government Stocks were revised downwards, pushing the Rizzo Farrugia MGS Index down 0.1 per cent to 1,173.712 points, reflecting the rebound in the benchmark European yields from their all-time lows of 0.145 per cent touched earlier on yesterday.
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