Share index slides back

The Malta Stock Exchange Share Index decreased by 17.127 points over the week, equal to 0.94 per cent, and now stands at 1,802.645. This decrease reverses the gains registered at the end of last week (week ending October 4: increase of 17.155 points, or 0.95 per cent).

One deal for 1,650 shares opened this week's trading in Bank of Valletta on Monday. Struck at Lm2.40, it dropped the equity's closing price by 4c from the previous reading.

Tuesday saw five deals being struck, between the opening price of Lm2.397 and Lm2.389, before closing at Lm2.39. Turnover amounted to 3,567 shares.

Wednesday's trading session did not bring any changes to the situation, when eight deals were struck between Lm2.389 and Lm2.39, the opening and closing prices respectively. 3,533 shares changed hands in these deals. Bank of Valletta shares did not trade on Thursday. In effect, the Malta Stock Exchange witnessed a session marked by the complete absence of equity trades on the official list.

Yesterday three deals were struck between Lm2.37, the opening price, and Lm2.38, the closing price, down by 1c on the previous close. 1004 shares were traded during the session. Following yesterday's session, 85 shares at Lm2.20 and 483 shares at Lm2.38 were the best outstanding bids and offers respectively.

Meanwhile, in a company announcement issued yesterday, it was published that the board of directors of Bank of Valletta plc is scheduled to meet on Friday, November 1 to consider and approve the group's and the bank's audited financial statements for the financial year ended September 30, to recommend the proposed dividend and to approve the preliminary profit statement.

Maltacom saw seven deals being struck on Monday, over which 5,270 shares changed hands. Trading opened at Lm1.088, went down to Lm1.04 before going up again to close at Lm1.08. The following session saw just one deal being struck, in which 1,000 shares changed hands at Lm1.08.

Wednesday, the last time the equity traded this week, saw one deal for 2,000 shares being struck at Lm1.078, thus losing 0c2 on the closing price. After yesterday's session drew to a close, best bids for 4,900 shares at Lm1.02 stood against best offers of 3,060 shares at Lm1.07.

Tuesday's trading session saw seven deals being struck in International Hotel Investments shares. 6,000 shares changed hands during the session, struck between the opening price of Lm0.829 and the closing price of Lm0.84. This was an increase of 0c5 on the previous closing price. IHI next traded yesterday, which session saw the equity lose 2c on the closing price after five deals were struck between the opening price of Lm0.83 and the closing price of Lm0.82.

Turnover amounted to 7,145 shares. As the session drew to a close, 855 shares at Lm0.81 were the best outstanding bids, while 1,612 shares at Lm0.82 were the best offers still unsatisfied.

Datatrak plc was the most traded equity this week, with 20 deals being struck over which 19,466 shares changed hands. Tuesday's session saw two deals for 2,000 shares struck at Lm0.428 and Lm0.429, this latter being the closing price. The equity registered a decrease of 0c9 on the previous closing price.

On Wednesday eight deals were struck between Lm0.45 and Lm0.459, the closing price, thus closing 3c up on the previous reading. 7,906 shares changed hands over the session. Another eight deals were struck on Thursday, as trading opened at Lm0.464 and went straight up to close at Lm0.47. Turnover reached 8,500 shares.

Yesterday's session witnessed two deals for 1,060 shares being struck at Lm0.468, the opening price, and Lm0.47, the closing price. Thus the closing price is unchanged from the previous session, while amounting to an increase of 4c2 over the week. Best offers of 87 shares at Lm0.47 were left unsatisfied following yesterday's session, while no bids were left.

HSBC Bank Malta plc announced that it has subscribed to one ordinary share of Lm1 in HSBC Investment Services (Malta) Limited, a limited liability company incorporated on October 1. The company has a fully paid issued share capital of 5,000 ordinary shares of Lm1 each. HSBC Fund Management (Malta) Limited subscribed to 4,999 shares of Lm1 each in the company.

The other equities which traded during the week are shown hereunder, followed by the price range in which trading was struck; 2,000 shares in Global Financial Services Group plc struck at Lm0.14; 1,500 shares in Middlesea Insurance plc struck at Lm2.045 and 6,155 shares in Simonds Farsons Cisk plc struck at Lm0.67.

Demand for bonds is still evident, as can be witnessed from trading on the Malta Stock Exchange, as well as from the number of corporate bonds being issued to satisfy this demand. Case in point is the pre-placement for the Simonds Farsons Cisk plc bonds to be opened to the public on October 17, which closed within minutes of opening.

Trading over the week in corporate bonds was made up of the following:

- One deal struck in the 6.15 per cent Bank of Valletta 2010, in which a nominal value of Lm1,000 changed hands at Lm102.

- Sixteen deals struck in the eight per cent Bank of Valletta 2010 (USD), in which a nominal value of USD 88,500 changed hands between USD 109.99 and USD 109.90.

- One deal struck in the 6.5 per cent Gasan Finance 2006/9, in which a nominal value of Lm2,000 changed hands at Lm100.

- One deal struck in the 6.7 per cent Mizzi Organisation Finance 2009/12, in which a nominal value of Lm24,000 changed hands at Lm 101.

- Two deals struck in the 8.25 per cent Suncrest 2005/7, in which a nominal value of Lm3,000 changed hands at Lm100.80.

- Two deals struck in the 6.7 per cent Tumas Investments 2010/12, in which a nominal value of Lm26,000 changed hands at Lm99.50 and Lm99.99.

Total Malta Government Stock turnover over the week amounted to a nominal value of Lm566,900 being struck in 62 deals over 15 different stocks.