The share index extended yesterday’s decline by a further 0.17 per cent to 4,339.412 points as the negative performance of HSBC and two other equities outweighed the gains registered in BOV.
Trading activity remained above the €200,000 mark as weekly total volumes hit a seven-week high.
Bank of Valletta advanced by 1.7 per cent to regain the €2.44 level on volumes of 27,445 shares as the market awaited the publication of the September 2015 full-year financial statements.
These were published shortly after the close of the trading session.
BOV reported a 13.3 per cent increase in pre-tax profits to a record of €117.9 million.
The directors are recommending the payment of a final gross dividend of 8c5 per share (final net dividend of 5c525 per share), which together with the gross dividend of 3c9 per share paid for the first six months of the year, make for a total gross dividend for the year of 12c4 per share, unchanged over last year.
This year’s final dividend is payable to those shareholders as at close of trading on November 13.
Moreover, a bonus share issue of one new share for every 12 shares held will be allotted to shareholders as at close of trading on January 13, 2016.
The directors also confirmed that the bank will shortly be increasing its Tier 2 capital through the issuance of subordinated debt on the local market as part of its capital planning programme.
The other positive performer of the day was Tigne’ Mall as a single deal of just 400 shares pushed the equity 1.1 per cent higher to the 95c level.
On the other hand, HSBC lost 2.4 per cent as the equity retreated back to the €1.80 level on heightened activity totalling 58,250 shares.
MIDI eased by 2.8 per cent to 35c on a single deal totalling 10,000 shares and Simonds Farsons Cisk closed 1.6 per cent lower at the €6 level on insignificant volumes of 849 shares.
Meanwhile, GO and Plaza Centres closed today’s trading session unchanged at the €3.30 and 99c respectively.
Yesterday evening, the shareholders of GO approved the necessary resolutions giving the company’s directors the required authority to seek bids from bona fide offerors for the company’s entire issued share capital and to make such disclosures, including disclosure of unpublished price sensitive information, to enable this to happen.
On the bond market, the RF MGS Index closed 0.2 per cent lower at 1,143.095 points as better than expected German inflation and business sentiment data pushed the 10-year German bund yield from yesterday’s level of 0.46 per cent level to 0.51 per cent today.
Nonetheless, yields across the eurozone still remain under pressure in anticipation of further monetary stimulus that the European Central Bank is expected to unleash in the upcoming Monetary Policy meeting taking place early in December.
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