The MSE Equity Price Index advanced by 2.8% to a near four-month high of 3,807.488 points on Wednesday, largely driven by the upsurge in the share price of BOV which, coupled with the gains in four other companies, offset the declines in three equities. Meanwhile, M&Z and Santumas Shareholdings closed unchanged as trading activity in equities improved markedly to €0.55 million compared to €0.12 million yesterday.
Bank of Valletta plc gained 26.1% to end the day at the €0.99 level on strong volumes totalling 518,773 shares having a market value of €0.45 million.
On Tuesday, the bank announced that it has reached an agreement with the curators of the bankruptcy of the Deiulemar Group whereby, without admission of any liability on either part, BOV will pay the sum of €182.5 million to the curators in full and final settlement of the disputes and of all claims that had been made by the curators against the Bank. BOV noted that following this development, it will be in a more secure capital position overall and will be better placed to carry out its business with confidence and sustainability.
Within the same sector, HSBC Bank Malta plc recaptured the €0.80 level (2.6%) across 15,338 shares.
MaltaPost plc moved 0.9% higher to the €1.10 level on 20,250 shares.
The two other positive performing equities today were Trident Estate plc and Hili Properties plc as they advanced by 4.3% and 3.3% to €1.46 and €0.248 respectively albeit on light volumes.
In contrast, a single deal of 20,000 shares pulled the share price of VBL plc 0.8% lower to the €0.256 level.
Malta International Airport plc moved back to the €5.95 level (-0.8%) across 3,840 shares.
GO plc lost 4.2% to the €3.16 level on a total of 3,202 shares.
Elsewhere, M&Z plc stayed at its all-time high of €0.77 across 27,768 shares.
Santumas Shareholdings plc traded flat at the €1.09 level on volumes totalling 5,082 shares.
The RF MGS Index extended its downward trend as it slipped by a further 0.05% to a fresh multi-year low of 991.313 points. On the economic front, PMI data for the services sector in France, Italy and Spain indicated stronger growth than previously expected. On the other hand, services activity in Germany grew by less than anticipated. Meanwhile, the EU proposed a total ban on the importation of Russian oil in a phased approach by the end of his year.