Low turnover

Trading in HSBC Bank Malta shares opened and closed the week at Lm4.82, unchanged from the previous week's level. During the two sessions which saw trading in the equity, the price ranged between a low of Lm4.77 and a high of Lm4.83. Total turn-over amounted to 29,075 shares changing hands over 15 deals. Following the close of business yesterday, best bids for 2,000 shares at Lm4.79 and best offers of 900 shares at Lm4.85 remained outstanding.

Four deals were struck in Bank of Valletta plc shares over the week with turnover amounting to 1,781 shares. Trading opened at Lm2.331 on Thursday and went up to close at Lm2.341 yesterday, up by 4c on the previous week's closing price. 399 shares at Lm2.34 and 1,500 shares at Lm2.399 were the best unsatisfied bids and offers respectively at the end of yesterday's trading session.

Maltacom shares opened at Lm1.08 on Wednesday, traded between Lm1.065 and Lm1.10 and closed at Lm1.099 on Thursday. 9,765 shares changed hands during these two sessions, spread over eight deals. After yesterday's trading session drew to a close, 2,075 shares at Lm1.065 were the best outstanding bids, while 2,980 shares at Lm1.09 were the best offers still unsatisfied.

Two deals struck in Simonds Farsons Cisk plc shares saw the equity close the week at the Lm0.80 mark. The first deal was struck at Lm0.785, at par with the previous closing price. Both deals were struck during yesterday's trading session, during which 2,150 shares changed hands. As yesterday's session ended, best bids for 850 shares at Lm0.80 and best offers of 2,133 shares at Lm0.895 remained outstanding.

In a company announcement issued on Tuesday, the Board of Directors of Middlesea Insurance plc stated that they are scheduled to meet on September 25 to approve for publication the announcement of the profits or losses in respect of the half-year.

Another company announcement, issued by FIMBank plc, stated that with respect to the recommended cash offer for London Forfaiting Company by FIMBank (UK), valid acceptances of the offer had been received on September 5 from the holders of approximately 77.1 per cent of the LFC shares in question. On that same day LFC directors applied with the London Stock Exchange for the de-listing of the shares which is anticipated to take effect on the October 3.

The other equities which traded during the week appear below, followed by the range in which trading took place: 5,710 Malta International Airport shares at Lm0.68 and Lm0.685; 1,000 International Hotels Investments shares at Lm0.82; 108 Middlesea Insurance plc shares at Lm2.395 and 400 FIMBank shares at USD1.18.

Total Malta Government Stock turnover amounted to a nominal value of Lm536,800 being traded in 64 deals over 21 different stocks. Trading over the week in Corporate Bonds was made up of a total value of Lm38,739.

The Malta Stock Exchange Share Index increased by 5.203 points or 0.256 per cent over the week and now stands at 2,039.928.