The share index retreated by 0.53 per cent to 4,444.492 points as five equities, including the large cap companies BOV, IHI and MIA, closed lower while only two shares closed in positive territory. Trading volumes remained subdued as just over €177,000 worth of shares changed hands.

Despite still trading with the entitlement to the final dividend, the equity of Bank of Valletta dropped a further 0.1 per cent and closed at the €2.39,7 level across 28,866 shares.

BOV shareholders as at close of trading tomorrow 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 shares will also be distributed to those shareholders as at close of trading on January 13, 2016.

Yet, the worst performer of the day was International Hotel Investments as the equity shed 4.1 per cent and closed at the 81c level across 6,424 shares.

Recently, IHI issued its interim directors’ statements explaining that the positive trends highlighted in the 2015 interim financial statements have persisted during the third quarter of the year and expectations for the rest of the financial year remain buoyant.

The equities of Malta International Airport and Tigne’ Mall retreated from their respective all-time highs of €4 and 97c. MIA closed at the €3.99 level (-0.2 per cent) across 7,900 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.

Tigne’ Mall edged one per cent lower to the 96c level across 10,000 shares. Last week, the property company issued its interim directors’ statement explaining that profitability during the first three quarters of the year increased when compared to the corresponding period last year. The company is also anticipating a positive performance for the final quarter of the financial year.

Similarly, RS2 Software failed to hold on to its record intra-day high of €2.78 as it closed at the €2.76 level (-0.7 per cent) across 4,540 shares.

Meanwhile, HSBC and Grand Harbour Marina closed the day in positive territory as both equities advanced by 0.5 per cent to €1.87,9 and €1 respectively.

Yesterday GHM issued its interim directors’ statement updating the market on its performance since the publication of its interim results as at June 30. The directors explained that, despite not concluding any berth sales, the group registered an improved performance when compared to the same period last year.

In fact, on a consolidated basis, GHM registered a profit before tax amounting to €0.55 million (against €0.29 million in the corresponding period last year).

A single trade of just 2,300 shares left the equity of Medserv unchanged at the €2.15 level.

On the bond market, the RF MGS Index closed in positive territory for the third successive day as it advanced by a further 0.34 per cent to 1,130.376 points.

In fact, the 10-year German bund yield slipped from the 0.64 per cent level of yesterday to 0.6 per cent today after the in a speech to the Economic and Monetary Affairs Committee of the European Parliament, the President of the European Central Bank Mario Draghi warned that signs of a sustained turnaround in core inflation had weakened and thus paving the way for further monetary easing in December.

On Tuesday, 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.

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