The share index retreated by 0.04 per cent to 4,346.671 points as the negative performance of four equities marginally offset the gains across four other equities – three of which, namely RS2 Software, Farsons and MaltaPost, all trading up to their highest levels ever.
Ahead of the publication of the September 30 financial statements due tomorrow afternoon, Bank of Valletta failed to hold on to an intra-day high of €2.44 – the highest level since March 2015 – and closed the day 0.8 per cent below yesterday’s close at the €2.40 level across 29,905 shares.
BOV will be holding its annual general meeting on December 17, during which shareholders would also be asked to approve the payment of a final dividend which would be announced tomorrow afternoon.
Last week, BOV announced it obtained approval for a €150 million Subordinated Debt Issuance Programme. Further details will be available in due course.
In the property sector, Plaza Centres and Tigne’ Mall dropped one per cent and 1.1 per cent lower to the 99c and 94c levels respectively on low volumes.
A single deal of just 288 shares sent the equity of Mapfre Middlesea 3.7 per cent lower to the €2.12 level.
Meanwhile, three equities traded up to new record levels. RS2 Software advanced by 1.6 per cent to the €2.55 level across healthy volumes totalling 27,404 shares.
Simonds Farsons Cisk added 0.8 per cent to a level of €6.10 on shallow volumes of 312 shares and MaltaPost closed up 0.1 per cent to the €1.82,1 after opening at a new record of €1.86.
A total of 6,864 shares today ahead of the publication of the September 2015 annual financial statements due on December 4.
The other positive performer today was HSBC as the bank’s equity moved 1.4 per cent higher to the €1.84,5 level bot on low volumes of 2,729 shares.
Grand Harbour Marina and Malta International Airport closed unchanged at the €1 and €3.86 level respectively also on weak activity.
On the bond market, the RF MGS Index closed minimally lower at 1,145.361 points as the 10-year German Bund yield reversed some of yesterday’s decline as it went up slightly from the 0.45 per cent level yesterday morning to 0.46 per cent today.
The shift in sentiment was driven by a somewhat hawkish position from the US Federal Reserve which, at the end of a two-day meeting yesterday, hinted at the possibility to slowly start abandoning its ultra-loose monetary policy and normalise interest rates in the world’s largest economy.
This contrasts sharply with the stance taken by the European Central Bank last week, whereby additional monetary easing is on the agenda.
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