Increase in equity deals

Over 60 per cent of the deals struck on the Malta Stock Exchange this week were struck in equities (equal to 104 deals out of a total of 170). These deals were split as follows: Maltacom shares (59 deals), and Bank of Valletta shares (22 deals). This is in contrast to the previous weeks' scenario whereby the market witnessed a large number of bond deals.

Bank of Valletta shares traded for the first three sessions of the week only, during which the closing price fell to Lm2.99 on Tuesday, before recouping 6c at the close of Wednesday's session, to close the week at Lm3.05. Twenty-two deals were struck, over which 10,627 shares changed hands. Trading was conducted between Lm3.05 and Lm2.989. Following Thursday's session, best bids of 130 shares at Lm2.95 stood against best offers of 1,500 shares at Lm3.04.

Maltacom shares commenced trading on Monday at Lm1.22, and closed the week at the same price. This is not to say, however, that movement was lacking. Monday's session saw the equity lose 7c on 17 deals. On Tuesday and Wednesday trading ranged between Lm1.18 and Lm1.13.

Nonetheless, on both days trading closed at Lm1.15, unchanged from Monday's close. Thursday saw the relevant share make up the lost ground, gaining 7c by the end of the session. Total turnover during the week amounted to 102,125 shares, struck over 59 deals. 370 shares at Lm1.151 and 2,000 shares at Lm1.22 were the outstanding best bids and offers respectively at the close of business on Thursday.

HSBC shares saw trading range between Lm3.99 and Lm3.91 during the week. Trading started on Tuesday, where one deal for 50 shares was struck at Lm3.99. On Wednesday four deals for 2,660 shares were struck, which in turn brought the closing price down by 8c to Lm3.91. Thursday's session saw one deal being struck for 500 shares at Lm3.94, up by 3c from the previous closing price. The net movement over the week was a decrease of 5c. Best bids for 1,000 shares at Lm3,84 and best offers of 4,400 shares at Lm4 were left unsatisfied at the close of Thursday's session.

The other equities which traded during the week are shown hereunder, followed by the price range in which trading was struck: 10,030 shares in International Hotels Investments plc struck between Lm0.845 and Lm0.85; 10,165 shares in Lombard Bank Malta plc struck between Lm3.96 and Lm3.88; 1,000 shares in Datatrak plc struck at Lm0.59. No trading was registered in Middle Sea Insurance, Simonds Farsons Cisk, Suncrest Hotels, Plaza Centres, Globe Financial Management, and FIMBank ordinary shares.

In a company announcement issued on Wednesday, Malta Government Privatisation plc published the Financial Statements for the period ended December 31, 2001 (period being October 12, 2000 - December 31, 2001), following approval by the board of directors. The figures show a profit for the period of Lm130,580 and earnings per share of 34c8. No comparative figures are available for previous accounting periods.

Trading over the week in Corporate Bonds was made up of the following:

Seven deals were struck in the 6.15 per cent Bank of Valletta 2010, in which a nominal value of Lm56,200 changed hands between Lm102.40 and Lm102.50.

Eight deals were struck in the eight per cent Bank of Valletta 2010 (USD), in which a nominal value of USD 55,000 changed hands at USD109.50.

Eight deals were struck in the 6.5 per cent Corinthia Finance 2010 (EUR), in which a nominal value of EUR 78,000 changed hands between EUR100 and EUR99.90.

One deal was struck in the 6.7 per cent Corinthia Finance 2009, in which a nominal value of Lm1,000 changed hands at Lm103.

One deal was struck in the 6.75 per cent Corinthia Finance 2012, in which a nominal value of Lm1,500 changed hands at Lm100.75.

One deal was struck in the 6.7 per cent Eden Finance 2010, in which a nominal value of Lm1,500 changed hands at Lm99.70.

Five deals were struck in the 6.5 per cent Gasan Finance 2006/9, in which a nominal value of Lm5,800 changed hands between Lm100 and Lm101.

One deal was struck in the 7.25 per cent HSBC 2005, in which a nominal value of Lm1,000 changed hands at Lm105.85.

Twelve deals were struck in the Malta Government Privatisation Bond, in which a nominal value of Lm15,000 changed hands between Lm100 and Lm96.50.

Total Malta Government Stock turnover over the week amounted to a nominal value of Lm140,400 being struck in 52 deals over 14 different stocks.

The Malta Stock Exchange Share Index decreased by 4.587 points, or 0.22 per cent, over the week, and now stands at 2,030.336. At the start of the week it stood at 2,034.923, but on Monday alone, lost 30.928 points, spurred on by losses in Bank of Valletta and Maltacom.

This was followed by another loss of 3.015 points following Tuesday's session, and 0.51 points following Wednesday's session, at which stage it had reached 2,000.47. Thursday, the last trading session of the week, saw the index gain 29.866 points. For the record, the Share Index has never fallen below the 2000 mark since in October 1999.