Bank of Valletta plc shares remained well supported at the €3.05 level after the initial setback on Monday in reaction to the bank’s interim directors’ statement and media reports highlighting the conclusion of a report by the MFSA on one of its investigations into BOV’s property fund.

Trading activity in BOV shares remained high with a further 62,000 shares changing hands today.

The MSE Share Index closed 0.2 per cent lower as declines in the share prices of HSBC Bank Malta plc (-0.3 per cent), GO plc (-1 per cent) and Middlesea Insurance plc (-2.8 per cent) offset the gains in Malta International Airport plc (+0.6 per cent) and Simonds Farsons Cisk plc (+0.5 per cent).

HSBC’s equity failed to hold on to the €3.51 level with the share price easing by 0.3 per cent to the €3.50 level on volumes of 23,558 shares. GO’s share price dropped one per cent to €1.90 on weak volumes of 3,200 shares on lack of support for this equity as the market awaits further developments from its Greek investment.

On the other hand, the share prices of Malta International Airport plc and Simonds Farsons Cisk plc recovered marginally.

MIA’s equity edged 0.6 per cent higher to the €1.81 level as the announcement of the 14.9 per cent growth in the January passenger numbers continued to generate demand for these shares.

This afternoon, low-cost carrier Ryanair announced a new route to Glasgow as from April 14. The share price of Farsons traded up 0.5 per cent to an eight-month high of €1.81.

The local bond market moved back into negative territory as the benchmark eurozone yield reached the 3.28 per cent level.

As a result the Rizzo Farrugia MGS Index dropped 0.4 per cent to a new 19-month low of 979.316 points.

This afternoon the Treasury published the prices of the new Malta Government Stock issues.

The government is offering a total of €200 million in two stocks: the 4.25 per cent MGS 2017 (III) at 101.25 per cent (YTM: 4.03 per cent per annum) and the 5.25 per cent MGS 2030 (I) FI at 101.50 per cent (YTM: 5.13 per cent per annum).

Subscriptions will be accepted between Monday and Wednesday.

Trading on the Malta Stock Exchange will resume on Friday.

www.rizzofarrugia.com

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