BOV up on high turnover

Bank of Valletta shares opened the week at Lm4.75 and gained 25c during the week to end yesterday's session at Lm5.00. Total turnover amounted to 126,598 shares changing hands over 142 deals for a total market value of Lm628,829. The price ranged between Lm5.04 and Lm4.75. At the end of yesterday's session, bids for 100 shares at Lm4.98 and offers of 6,735 shares at Lm5.00 made up the best unsatisfied closing positions.

Meanwhile, HSBC shares eased back and lost 13c9 during the week to end yesterday's session at Lm9.06 after opening at Lm9.199 on Monday. Total turnover amounted to 85,307 shares changing hands over 109 deals. During the week the price ranged between Lm9.40 and Lm9.04. As yesterday's session drew to a close 60 shares at Lm9.06 and 200 shares at Lm9.07 were the best unsatisfied bids and offers respectively.

In the meantime, Maltacom shares opened the week at Lm1.59 on Monday and went up to close the week at Lm1.60 yesterday. A total of 37,467 shares changed hands during the week, spread over 45 deals. During the week the price ranged between Lm1.65 and Lm1.57. As yesterday's session drew to an end, 500 shares at Lm1.601 and 2,265 shares at Lm1.648 were the best outstanding bids and offers respectively.

In a company announcement issued on Monday, the Board of Directors of Maltacom plc, announced that in a meeting convened on the February 11 the Board resolved to increase the issued share capital of its subsidiary company Telepage Limited to Lm710,000 divided into 710,000 ordinary shares of a nominal value of one Malta Lira each by the issue of 160,000 ordinary shares of one Malta Lira each, which shares shall be allocated to Maltacom plc, and credited as fully paid up shares.

In another company announcement issued on Thursday, the Board of Directors of Lombard Bank Malta plc, published the profit statement for the year ended December 31, 2004. These show a net interest income of Lm3,669,000 (September 2002-December 2003: Lm3.6 million); profit attributable to shareholders of Lm1,558,000 (September 2002-December 2003: Lm1.4 million); and earnings per share of 38c (September 2002-December 2003: 34c7). A gross final dividend of 15c per share is being proposed and if approved, will be paid to shareholders on the register of members on the February 28.

Meanwhile, the price of Lombard Bank shares increased by 6.982 per cent during the week. Trading opened the week at Lm4.44 on Monday and went on to close at Lm4.75 on Thursday. Total turnover amounted to 4,308 shares changing hands over eight deals. As Thursday's session drew to a close, 615 shares at Lm4.80 and 281 shares at Lm5.082 were the best unsatisfied bids and offers respectively.

The other equities which traded during the week appear below, followed by the range in which trading took place: 5032 Middlesea Insurance shares between Lm2.85 and Lm2.60; 5,000 Simonds Farsons Cisk shares between Lm1.13 and Lm1.12; 1,000 International Hotels Investments shares at €0.80; 8,200 Plaza Centres shares at Lm0.635; 15,700 FIM Bank shares at USD 1.11; 18,521 Malta International Airport shares between Lm1.32 and Lm1.299 and 42,500 Global Financial Services shares between Lm1.00 and Lm0.95.

Total Malta Government Stock turnover amounted to a nominal value of Lm5,426,700 being traded in 74 deals over 21 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm683,438.

The Malta Stock Exchange share index increased by 55.125 points or 1.66 per cent over the week and now stands at 3,372.523.

Report by Azzopardi Investment Management Limited, tel. 2131 3100, fax. 21 318897