Heavy trading in BoV

Bank of Valletta closed last week's trading on Thursday at Lm2.65, unchanged from the previous week's reading. Trading opened on Monday at Lm2.645 and ranged between Lm2.63 and Lm2.66.

Twenty deals were struck during the week, over which 110,269 shares changed hands. Following the close of business on Friday, 800 shares at Lm2.632 were the best outstanding bids, and 13,526 shares at Lm2.65 were the best offers still unsatisfied.

Three deals were struck in HSBC Bank Malta shares last week, one at Lm5.44, one at Lm5.45 and the closing deal at Lm5.42, bringing the equity's closing price back to the previous week's level. A total of 2,800 shares changed hands over the week.

As Friday's session drew to a close 435 shares at Lm5.42 and 170 shares at Lm5.45 were the best outstanding bids and offers, respectively.

Maltacom plc was the only big cap to close the week on a positive, albeit slightly so, note. Friday's session saw the equity close the week at Lm1.06, up 1c on the previous week's closing price.

Trading during the week ranged between Lm1.035 and Lm1.06. Weekly turnover consisted of ten deals being struck in which 8,700 shares changed hands. At the end of Friday's session, best bids for 565 shares at Lm1.035 and best offers of 1,100 shares at Lm1.059 remained unsatisfied.

In a company announcement on Tuesday, the board of directors of Malta International Airport plc published the interim unaudited financial statements for the six months ended September 30. These show an operating income of Lm8,642,452 (six months ended September 30, 2002: Lm7,941,278), profit on core operations of Lm1,684,685 (Lm1,715,422) and earnings per share (excluding the gain on the sale of terminal land and discontinued operations) of 12c45 (12c87).

The company also announced the payment of a net interim dividend of Lm947,100, representing a net dividend per share of Lm0.014. Shareholders on the register of members on Friday were eligible for the dividend.

In a company announcement on Tuesday, Simonds Farsons Cisk plc said it signed an agreement with Guido Vella to acquire Guido Vella Cash & Carry as a going concern.

International Hotel Investments plc announced on Friday that in an extraordinary general meeting to be held on December 9, the following resolutions will be presented for consideration:

1) to convert the company's share capital to euros and consequently change the nominal value of the shares from €2.48 to €1 per share;

2) to increase the company's share capital;

3) to give the directors the power to issue and allot shares up to a nominal value of €1.5 million for a period of 12 months from the date of the resolution, at a price not below the nominal value and without first offering them to existing shareholders;

4) to regulate the appointment of the chairman of the board of directors.

The other equities which traded during the week (with the trading range in brackets) were: 6,400 MIA shares (Lm0.68-Lm0.70); 1,080 IHI shares (Lm0.84-Lm0.849); 29,600 Plaza Centres shares (Lm0.598-Lm0.60); and 100 Global Financial Services Group shares at Lm1.05.

Total Malta Government Stock turnover amounted to a nominal value of Lm6,652,000, being traded in 116 deals over 24 different stocks.

Three different stocks attracted heavy trading: a nominal value of Lm1,320,700 changed hands in the 6.1% MGS 2015; Lm1,676,500 in the 6.25% MGS 2011 (II); and Lm1,800,000 in the 7.8% MGS 2018. Trading over the week in corporate bonds amounted to a total value of Lm385,269.

The Malta Stock Exchange Share Index was down 0.168 points or 0.008% over the week and now stands at 2,160.23.