BOV touches Lm5

Bank of Valletta shares opened the week at Lm4.899 and gained 10c1 during the week to end Thursday's session at Lm5. Total turnover amounted to 24,589 shares changing hands over 46 deals for a total market value of Lm120,212. The price ranged between Lm5 and Lm4.87. At the end of Thursday's session, bids for 100 shares at Lm4.90 and offers of 3,112 shares at Lm5 made up the best unsatisfied closing positions.

Meanwhile, HSBC shares lost 11c during the week to end Thursday's session at Lm9.49 after opening at Lm9.60 on Monday. Total turnover amounted to 18,885 shares changing hands over 29 deals. As Thursday's session drew to a close 395 shares at Lm9.40 and 2,103 shares at Lm9.499 were the best outstanding bids and offers respectively.

In a company announcement issued on Thursday, the board of directors of HSBC Bank Malta plc stated that all the ordinary resolutions and the extraordinary resolution presented at the annual general meeting held on Wednesday had been approved. Furthermore, the following were appointed or elected to sit on the board: Albert Mizzi (chairman), Shaun Wallis, Martin J. Wilkins, Dyfrig D.J. John, Charles J. Farrugia, Dr Philip Farrugia Randon, Louis A. Farrugia, Victor Scicluna and Peter Paul Testaferrata Moroni Viani.

Middlesea Insurance exceeded Lm3 for the first time since July 2001 to close Thursday's session at Lm3.001 after opening on Tuesday at Lm2.96. Total turnover for the week amounted to 4,318 shares changing hands over five deals. At the close of Thursday's session, bids for 156 shares at Lm3.002 and offers for 144 shares at Lm3.049 made up the best unsatisfied closing positions.

In the meantime, Maltacom shares opened the week at Lm1.50 on Monday and went down to close the week at Lm1.45 on Thursday.

A total of 138,427 shares changed hands during the week spread over 71 deals. During the week the price ranged between Lm1.51 and Lm1.435. As Thursday's session drew to an end, 110 shares at Lm1.433 and 1,500 shares at Lm1.45 were the best outstanding bids and offers respectively.

The other equities which traded during the week appear below, followed by the range in which trading took place; 567 Simonds Farsons Cisk shares at Lm1.195; 138,427 Maltacom shares between Lm1.51 and Lm1.435; 9,202 International Hotels Investments shares between €0.799 and €0.751; 54,510 Plaza Centres shares between Lm0.65 and Lm0.64; 180,000 FIM Bank shares between USD1.19 and USD1.13; 13,050 Malta International Airport shares between Lm1.35 and Lm1.29; and 14,944 Global Financial Services shares between Lm1.20 and Lm1.15.

In a company announcement issued on Wednesday, Simonds Farsons Cisk plc announced that the board of directors will meet on Wednesday to consider and declare the distribution of an interim dividend to all shareholders on the register as on April 11.

Total Malta Government Stock turnover amounted to a nominal value of Lm330,000 being traded in 69 deals over 21 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm625,160.

Meanwhile, in the primary market, the Treasury announced that it had received 3,266 applications for a total value of Lm74.5 million with respect to its latest issue of Lm40 million worth of Government Stock. All subscriptions by the small investors will be entirely accepted with the remaining money being allocated to the institutional investors in the order of the bid price offered.

The Malta Stock Exchange Share Index decreased by 6.091 points or 0.18 per cent over the week and now stands at 3,394.52.