Index regains some lost ground

The Malta Stock Exchange Share Index increased by 10.559 points over the week, equal to 0.57%, and now stands at 1,848.035. This was largely due to gains registered in the TWAPs of Bank of Valletta and Middlesea Insurance shares.

Bank of Valletta shares started trading on Monday where they left off at the close of last week, at Lm2.70. Over the course of the session, nine deals were struck for a turnover of 8,824 shares, with the price going up to close at Lm2.76. Tuesday saw ten deals being struck in the shares, with trading opening and closing at Lm2.75, while 7,776 shares changed hands during the session. Another loss of 1c was registered on the closing price following Wednesday's session, when two deals for 2,736 were both struck at Lm 2.74. A single deal was struck during Thursday's session, also at the price of Lm2.74, during which 1,314 shares changed hands.

Three deals were struck on Friday: one at the opening price of Lm2.72, another at Lm2.75, and one at the closing price of Lm2.74, thus remaining unchanged from the previous session. At the close of business on Friday, 700 shares at Lm2.72 were left as best unsatisfied bids, while 1,500 shares at Lm2.74 were the best offers still outstanding.

Two deals were struck in Maltacom shares on Tuesday, the first session of the week for the equity. Both were struck at Lm1.055, down by 0c5 from the previous reading, while turnover amounted to 1,750 shares. Wednesday saw some recovery in the price, with trading opening at Lm1.099 and closing at Lm1.10, up by 4c5; 3,000 shares changed hands on the day, over three deals.

Next trading on Friday, Maltacom shares saw four deals being struck, between the opening price of Lm1.07 and the closing price of Lm1.06. This was down by 4c on the previous close, bringing the price back to the closing level of last week. As Friday's session drew to a close, 2,000 shares at Lm1.05 and 8,000 shares at Lm1.08 were the best unsatisfied bids and offers.

No change was registered in HSBC shares following Monday's trading session, during which two deals were struck at Lm3.75. Turnover amounted to 677 shares. One deal was struck on Tuesday, again at Lm3.75, over which 240 shares changed hands. Wednesday's session saw another deal being struck at Lm3.75, with 880 shares changing hands. Thursday's trading session, the last for the week for the equity, saw trading open at Lm3.72, and close at Lm3.74. Three deals were struck over which 850 shares changed hands.

In accordance with a company announcement issued on November 7, Assicurazioni Generali sold its holding of 290,930 shares in Middlesea Insurance plc to Corporacion Mapfre S.A. This deal was struck on Monday, when a special trade was effected at Lm2.31. Another six deals were struck in Middlesea Insurance shares over the week, at Lm1.90 and Lm2, this latter being the closing price for the week.

In a company announcement issued by Lombard Bank Malta plc on Monday, further details were published in connection with the proposal that shareholders be given the option of receiving the dividend either in cash or by the issue of new shares, as per the company announcement of November 6. This company announcement stated that the Attribution price (at which the new shares to be issued will be determined) has been established on the trade weighted average price of the bank's shares for the three months up to and including November 6. The bank announced that the attribution price will be Lm3.538.

The other equities which traded during the week are shown hereunder, followed by the price range in which trading was struck: 6,119 shares in International Hotels Investments struck at Lm0.85; 357 shares in Lombard Bank Malta struck at Lm3.49 in the put-through market and 5,050 shares in GloBAl Financial Services Group struck between Lm0.13 and Lm0.135.

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

¤ One deal struck in the 6.15% Bank of Valletta 2010, in which a nominal value of Lm600 changed hands at Lm103.

¤ Six deals struck in the 8% Bank of Valletta 2010 (USD), in which a nominal value of USD 99,000 changed hands between USD 110.01 and USD 112.00.

¤ Two deals struck in the 6.7% Corinthia Finance 2009, in which a nominal value of Lm6,000 changed hands at Lm102.50.

¤ Two deals struck in the 6.75% Corinthia Finance 2012, in which a nominal value of Lm3,500 changed hands at Lm102.50.

¤ Three deals struck in the 6.5% CareMalta Finance 2008/11, in which a nominal value of Lm19,200 changed hands between Lm100.40 and Lm100.60.

¤ One deal struck in the 6.7% Eden Finance 2010, in which a nominal value of Lm1,500 changed hands at Lm99.45.

¤ Three deals struck in the 6.5% Gasan Finance 2006/9, in which a nominal value of Lm7,000 changed hands at Lm101.75.

¤ One deal struck in the 7.25% HSBC 2005, in which a nominal value of Lm400 changed hands at Lm105.

¤ Two deals struck in the 6.7% Mizzi Organisation Finance 2009/12, in which a nominal value of Lm5,400 changed hands at Lm103.

¤ Three deals struck in the 6.25% Simonds Farsons Cisk 2006/8, in which a nominal value of Lm700 changed hands at Lm101.

¤ Two deals struck in the 6.6% Simonds Farsons Cisk 2010/12, in which a nominal value of Lm400 changed hands at Lm102.51.

¤ Twelve deals struck in the 6.7% Tumas Investments 2010/12, in which a nominal value of Lm32,200 changed hands between Lm101.25 and Lm101.

¤ Three deals struck in the 7.5% Hotel San Antonio 2012, in which a nominal value of Lm6,300 changed hands between Lm96.90 and Lm 98.

Total Malta Government Stock turnover over for the week amounted to a nominal value of Lm1,004,300 being struck in 32 deals over 16 different stocks.