Index starts year ahead

The Malta Stock Exchange share index increased by 10.573 points or 0.5 per cent this week and now stands at 2,136.338.

Trading in Maltacom shares opened at Lm1.049, and increased by 4.862 per cent to end the week at Lm1.10. Weekly turnover consisted of 76 deals over which 308,890 shares changed hands. After yesterday's session, 2,727 shares at Lm1.10 and 1,000 shares at Lm1.11 were the best outstanding bids and offers respectively.

Meanwhile, HSBC shares opened the week at Lm5.45 and went up to close at Lm5.48 on Thursday. A total of 28,350 shares changed hands over the week, spread over 13 deals. Following yesterday's session, drew to a close 550 shares at Lm5.46 and 250 shares at Lm5.48 made up the best unsatisfied bids and offers respectively.

Bank of Valletta shares opened trading at Lm2.47 on Monday and went on to close the week's trading yesterday at Lm2.45. Trading during the week ranged between Lm2.47 and Lm2.43, with turnover amounting to 22,491 shares changing hands over 44 deals. Following close of business yesterday best bids for 61 shares at Lm2.435 and best offers of 1,478 shares at Lm2.50 remained outstanding.

In a company announcement issued on Monday, the board of directors of Lombard Bank Malta plc stated that it would be meeting on Wednesday, February 18 to consider and approve the announcement of the profits in respect of the year ended December 31, 2003 for publication.

In another company announcement issued on Tuesday, the board of directors of Suncrest Hotels plc stated that it is scheduled to meet on January 13 to approve the company's final audited accounts for the financial year ended October 31, 2003, to recommend the proposed dividend and to approve the preliminary profit statement.

The other equities which traded during the week appear below, followed by the range in which trading took place; 1,048 International Hotels Investments shares between €0.829 and €0.81; 2,000 FIMBank shares at USD0.90; 25,551 Malta International Airport shares at Lm0.70; 247 Middlesea Insurance shares at Lm2.399, 100 Simonds Farsons Cisk shares at Lm0.90; 300 Global Financial Services Group at Lm0.95 and 1,000 Datatrak Holdings shares at Lm0.249.

Total Malta Government Stock turnover amounted to a nominal value of Lm818,900 being traded in 83 deals over 14 different stocks. Of this total, a nominal value of Lm558,700 changed hands in the 4.8 per cent MGS 2016 (II) in 38 deals. Trading over the week in corporate bonds was made up of a total value of Lm174,078.