Government bonds heavily over-subscribed
The latest Malta Government Stock issues, 5.4 per cent 2010 (V) and 5.9 per cent 2015 (II) (Fungible - issued at Lm102 per Lm100) witnessed a huge response, with three times the amount required being applied for. The bonds on offer were of an aggregate nominal value of Lm55 million, while applications received totalled Lm155 million. Allocation details have yet to be published.
Bank of Valletta shares opened and closed trading at Lm2.35 last week, 1c lower than the previous week's closing price. The last three sessions of the week opened below Lm2.35, but managed to go up and close at that level throughout. A total of 24,725 shares changed hands, over 21 deals. At the close of business yesterday, best bids for 873 shares at Lm2.30 remained unsatisfied, while 1,500 shares at Lm2.34 were still outstanding.
Meanwhile, Maltacom shares opened trading on Monday at Lm1.005, going down to close the session at Lm1. This was the price at which all deals were struck on Tuesday and Wednesday, while yesterday's session had an average price of Lm0.96 and closed at Lm0.999. Turnover amounted to 56,434 shares spanning 30 deals. 600 shares at Lm0.96 stood against 18,431 shares at Lm0.999 as the best outstanding positions.
HSBC shares had a good start to the week, opening at Lm4.10, an increase of 7c on the previous closing price. During the week trading reached a high of Lm4.15, subsequently going down to end the week at Lm4.05. Fifteen deals were struck during the week, over which 7,335 shares changed hands. Following yesterday's session, 490 shares at Lm4.05 and 570 shares at Lm4.10 were the best outstanding bids and offers respectively.
Six deals for 5,514 shares were registered in Middle Sea Insurance plc, with trading during the week opening at Lm2.149 and going up to close at Lm2.20. This was equal to an increase of 2.373 per cent.
In a company announcement issued on Wednesday, FIMBank plc published the preliminary profit statement for the year ended December 31, 2002. This shows a loss for the year of USD 6,128,899 (year ended December 31, 2001: profit of USD 2,137,550). Loss per share stands at 13c32 (year ended December 31, 2001: earnings per share of 5c02). The directors did not recommend the payment of a dividend. A subsequent company announcement detailed the replacement of a director for the bank.
The other equities which traded during the week appear below, followed by the range in which trading took place: 3,046 International Hotels Investments shares between Lm0.90 and Lm0.899; 4,418 Lombard Bank shares between Lm3.19 and Lm3.23; 36,102 Malta International Airport shares at Lm0.73 in a put-through deal; 32,000 FIMBank shares at USD 1.24 in a put-through deal and 3,000 GloBAl Financial Services Group shares between Lm0.188 and Lm0.19.
The 6.2 per cent - 6.8 per cent IHI plc 2013 (EUR) and the 6.3 per cent IHI plc 2013 (Lm) were admitted to the official list of the Malta Stock Exchange on Wednesday, with trading in the bonds commencing on Thursday and yesterday respectively.
The Euro denominated bond traded in nine deals for €565,900 nominal between €100 and €100.50 while the Lm bond traded in one deal for Lm1,000 nominal at Lm101.50.
Trading over the week in corporate bonds was made up of a total value of Lm385,641, while total Malta Government Stock turnover over the week amounted to a nominal value of Lm145,600 being struck in 32 deals over 14 different stocks.
The Malta Stock Exchange Share Index decreased by 2.255 points over the week, equal to 0.12 per cent, and now stands at 1,908.371.