The share index partly reversed yesterday’s losses as it advanced by 0.74 per cent to close at 4,462.778 points largely due to the positive performances in the equities of BOV and HSBC. Trading volumes eased further lower as €321,000 worth of shares changed hands during this morning’s trading sessions.

The equity of HSBC completely reversed yesterday’s decline as it regained the €1.79 level (+2.3 per cent) across 20,894 shares. Recently the bank announced that it will be launching a voluntary early retirement scheme for its employees in a bid to contain costs which are growing and largely led to a drop in profitability during the first three quarters of this year.

On the other hand, the equity of Bank of Valletta plc gained 0.3 per cent to close at the €2.29,9 level across 30,675 shares. The bank will be holding its next annual general meeting on December 17, during which shareholders will be asked to approve a number of resolutions including a gross final dividend of 8c5 per share (payable on the following day) and a one for every 12 bonus share issue.

In contrast to yesterday’s decline of 23.1 per cent, the recently listed equity of Malta Properties Company rebounded by 10 per cent today to close at the 55c level across 116,500 shares. Indeed, the first few trading sessions for the equity have been highly volatile.

The equity of FIMBank also trended positive territory today as it advanced by a further 6.7 per cent to close at the 64cUS level – the highest since early August 2014 – across 18,000 shares.

Meanwhile, Lombard Bank maintained its multi-year high of €2.35 after rebounding from an intra-day low of €2.30 albeit across low volumes of 2,355 shares.

Shallow volumes also characterised trading activity in the equities of Malta International Airport and Medserv as they drifted into negative territory. The equities closed at the €4 (-0.2 per cent) and €2.11 (-0.5 per cent) levels respectively.

The only other negative performer of the day was GO as the equity declined by 0.8 per cent to the €2.96,5 level across 44,501 shares.

On the bond market, the RF MGS Index almost completely reversed yesterday’s decline as it inched 0.13 per cent higher to 1,149.494 points. The move reflected the downturn in the yield of the benchmark 10-year German Bund to 0.48 per cent following the weaker-than-expected eurozone inflationary data which reinforced market expectations that the European Central Bank will further broaden the parameters of its already loose monetary policy at tomorrow’s policy meeting.

The applications process for any submissions for the €75 million 3.5 per cent Bank of Valletta plc Subordinated Notes 2030 from the public commenced today.

Submissions from both the public and preferred applicants (namely BOV shareholders) will close on Friday (or earlier at the discretion of the bank).

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