New MGS issue

Two new Malta Government Stocks will be issued next week. One is for Lm30 million with an interest rate of 5.1 per cent and maturing in 2014, while the other is for Lm33,833,200 with an interest rate of 5.5 per cent and maturing in 2023. Applications open on Monday at 8.30 a.m. and close on Thursday, July 10, at noon, or earlier, at the discretion of the accountant general. Both stocks are being issued at par.

Following the decision by the Central Bank of Malta to lower the central intervention rate by 25 basis points (0.25 per cent) to 3.25 per cent, the volume of Malta Government Stocks traded in the secondary market during the week amounted to a nominal value of Lm1,506,800. This was done in 108 deals over 23 different stocks. Of these, a nominal value of Lm724,800 changed hands in the 5.9 per cent MGS 2015 (III).

Trading over the week in corporate bonds was made up of a total value of Lm185,314.

Bank of Valletta shares saw 10,600 shares change hands during the week. Trading was struck between the opening price of Lm2.28 and the closing price of Lm 2.30, and was conducted over 16 deals. A total of 40 shares at Lm2.305 and 7,868 shares at Lm2.31 were the best outstanding bids and offers at the close of business yesterday.

Trading in Maltacom shares opened at Lm0.89 and closed the week at Lm0.90, with 52,241 shares changing hands over 19 deals. As yesterday's trading session drew to a close, 1,700 shares at Lm0.90 and 500 shares at Lm0.909 were the best outstanding bids and offers respectively.

HSBC shares closed the week's trading on Wednesday at Lm4.40, having opened on Monday at Lm4.36. Turnover amounted to 5,085 shares changing hands over nine deals. Following yesterday's session, best bids for 1,500 shares at Lm4.25 were outstanding while best offers of 1,800 shares at Lm4.35 remained unsatisfied.

The 12 deals struck in Datatrak Holdings this week saw the equity's price reach a weekly high of Lm0.315 before closing the week at Lm0.30, up by 0c3 on the previous week's closing price. Turnover amounted to 21,224 shares being traded between Lm0.28 and Lm0.315. At the close of the week, best bids for 2,500 shares at Lm0.27 stood against best offers of 2,000 shares at Lm0.30.

The other equities which traded during the week were: 1,080 International Hotel Investments shares between Lm0.899 and Lm0.90; 1,626 Middlesea Insurance shares between Lm2.50 and Lm2.57; 500 Plaza Centres shares at Lm0.70 and 5,553 Simonds Farsons Cisk shares between Lm0.75 and Lm0.77.

The Malta Stock Exchange Share Index increased by 0.637 points or 0.033 per cent over the week and now stands at 1,926.501.