Stock market report March 24-28

Bank of Valletta shares opened trading at Lm2.319 on Tuesday, following which trading ranged between Lm2.32 and Lm2.30.

This latter was the closing price for the week, down by 0.819 per cent on the opening price.

20,410 shares changed hands over the week, over 17 deals.

Following the close of business yesterday, 585 shares at Lm2.30 and 300 shares at Lm2.319 were the best unsatisfied bids and offers respectively.

HSBC Bank shares witnessed six deals being struck during the week, over which 21,876 shares changed hands. The majority of the trading was conducted at Lm4, with the price reaching Lm4.01 briefly on Monday.

At the end of yesterday's trading session 4,000 shares at Lm3.94 were left as best outstanding bids, while 1,351 shares at Lm4 were the best offers still unsatisfied.

An increase of 9.481 per cent was witnessed in Maltacom's share price, when trading in the equity closed yesterday at Lm0.97. This was an increase of 10c on last Friday's closing price.

Trading over the week consisted of 44,725 shares changing hands over 16 deals. At the close of business yesterday best bids for 2,500 shares at Lm0.92 stood against six shares at Lm0.97.

A similar scenario was seen in Malta International Airport shares, with the equity closing the week at Lm0.699 from an opening price of Lm0.66.

Turnover amounted to 18 deals being struck over the week, over which 30,965 shares changed hands. 1,000 shares at Lm0.60 and 1,500 shares at Lm0.695 were the best outstanding bids and offers respectively yesterday.

In a company announcement Simonds Farsons Cisk plc stated that it will be distributing a net interim dividend of Lm70,000 (0c27 per share) out of tax exempt profits to all ordinary shareholders on the Register as on Tuesday, April 1, 2003.

Another announcement issued by HSBC Bank Malta plc on Thursday stated that during the recently-held annual general meeting all the resolutions on the agenda were approved.

Suncrest Hotels plc also held its annual general meeting this week. All ordinary and extraordinary resolutions forwarded were approved by the shareholders.

The other equities which traded during the week appear below, followed by the range in which trading took place: 1,052 International Hotels Investments shares at Lm0.949; 426 Lombard Bank shares at Lm3.601; 1,831 Middle Sea Insurance shares between Lm2.239 and Lm2.20; 200 Simonds Farsons Cisk shares at Lm0.652; 1,200 Global Financial Services Group shares at Lm0.17 and 32,040 Datatrak Holdings shares between Lm0.37 and Lm0.50.

Trading over the week in Corporate Bonds was made up of a total value of Lm272,146, while total Malta Government Stock turnover over the week amounted to a nominal value of Lm293,100 being struck in 34 deals over 12 different stocks.

The Malta Stock Exchange Share Index increased by 25.809 points or 1.39 per cent over the week and now stands at 1,884.781.