BOV share price rallies on Deiulemar deal
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...