The share index partially recovered yesterday’s drop as it advanced by 0.11 per cent to 4,468.232 points. RS2 and MIA extended their positive momentum whilst BOV dropped despite still trading with the entitlement to the final dividend. Meanwhile, trading volumes decreased noticeably to a value of just over €168,000 compared to yesterday’s level of €390,000.
The equity of Malta International Airport advanced by 1.3 per cent to regain its all-time high of €4, reached in late July 2015, albeit on low volumes of 2,853 shares. Last week, the airport operator published its October traffic results revealing a 10.2 per cent increase in passenger movements bringing the growth in the first 10 months of 2015 to +7.4 per cent.
RS2 Software continued to trade up to new record levels and closed the day 1.1 per cent higher at €2.77,9 after touching an intra-day high of €2.78. A total of 6,715 shares traded today.
The other positive performers of the day were GO and HSBC as the equities advanced by one per cent and 0.5 per cent to €3.15 and €1.87 respectively.
Despite still trading with the entitlement to the final dividend, the equity of Bank of Valletta dropped a further 0.8 per cent and closed at the €2.40 level across 25,616 shares.
BOV shareholders as at close of trading next Friday will be entitled to receive a final net dividend of 5c525 per share which is payable on December 18. Moreover, a bonus share issue of one new share for every 12 will also be distributed to those shareholders as at close of trading on January 13, 2016.
Medserv lost some of its recent gains as the equity closed 0.9 per cent lower at the €2.15 level across 6,460 shares.
International Hotel Investments and Malita Investments also featured among the negative performers with declines of 0.1 per cent and 1.1 per cent to 84c5 and 92c respectively albeit on shallow volumes.
On the bond market, the RF MGS Index advanced by a further 0.11 per cent to 1,130.376 points as the 10-year German bund yield declined slightly to 0.64 per cent today. Expectations are growing that the European Central Bank will reduce its deposit rate further into negative territory next month while the US Federal Reserve looks set to increase rates.
Yesterday, Bank of Valletta confirmed the publication of a prospectus dated October 16 and a supplement dated November 9 in connection with the recently announced €150 million subordinated debt issuance programme.
BOV also published the final terms confirming the issuance of the first tranche of €75 million 3.5 per cent subordinated notes maturing in 2030. Tranche 1 is split into Series 1 (minimum €25,000 per application) and Series 2 (minimum €5,000 per application).
€40 million has been reserved for preferred applicants (shareholders, directors and employees) who must submit all information by November 30. Other investors must apply by December 2.
www.rizzofarrugia.com