FIMBank reaches 16-month high

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...