BOV touches Lm5

Bank of Valletta shares opened the week at Lm4.85 and gained 14c8 during the week to end yesterday's session at Lm4.998. Total turnover for the week amounted to 57,063 shares changing hands over 42 deals. During the week, the price ranged between Lm5 and Lm4.85. At the end of yesterday's session, bids for 5,000 shares at Lm4.911 and offers of 1,737 shares at Lm4.999 made up the best unsatisfied closing positions.

Trading in HSBC shares opened the week at Lm5 on Monday and closed yesterday's session at Lm4.999. A total of 35,182 shares changed hands over the week, spread over 37 deals. During the week, trading ranged between Lm5 and Lm4.98. At the end of yesterday's session, bids for 404 shares at Lm4.95 and offers of 1,500 shares at Lm4.999 made up the best unsatisfied closing positions.

Meanwhile, Maltacom opened the week at Lm1.335 on Monday and went up to close the week at Lm1.34 yesterday. Turnover amounted to 6,900 shares changing hands over 11 deals. As yesterday's session drew to an end, 250 shares at Lm1.331 and 752 shares at Lm1.34 were the best outstanding bids and offers respectively.

On Tuesday, Maltacom plc announced that with effect from Thursday, June 23, Francis Galea Salamone has been appointed by the board of directors of Maltacom plc as company secretary. This appointment followed the request by the former company secretary, Raymond Fava, not to nominate him for re-appointment to the position. During the meeting of the board of directors, Mr Fava was appointed head of Corporate Governance and Investor Relations.

Yesterday, Maltacom plc announced that its subsidiary companies Datastream Ltd and Terranet Ltd are to be merged. Datastream Ltd is in the business of providing wholesale data services while Terranet Ltd is an internet service provider. This merger process is intended to consolidate the operations of these two companies under one legal entity as part of a high-level restructuring exercise with a view to maximising its position as a leading provider of broadband internet and other data services.

In another company announcement issued yesterday, Maltacom plc announced that the Cabinet of Ministers has approved the appointment of Charles Camilleri as board director of Maltacom plc with effect from yesterday, up to the date of the company's next annual general meeting which is to be held in 2006. Said appointment is in lieu of Ing. Alexander Tranter who has now been appointed as chairman of Enemalta Corporation.

On Tuesday, Middlesea Insurance plc announced that pursuant to the annual general meeting held on June 17, Andrés Jiménez was elected as a director of Middlesea Insurance plc. Mr Jiménez is currently the chairman and chief executive officer of MAPFRE RE, Compañia De Reaseguros in Madrid (Spain). He joined MAPFRE organisation in 1966 and has held a number of senior positions in the reinsurance activities since 1982. Mr Jiménez was elected as a non-executive director of Middlesea Insurance plc.

In a company announcement issued on Thursday, Simonds Farsons Cisk plc announced that all the ordinary resolutions (including the payment of a net dividend of 2c4 per share ) as put to the 58th annual general meeting held on Thursday were approved by the shareholders. Furthermore, since only two nominations were received within the stipulated time for election to the board of directors and consequently there was no need for an election to be held; Bryan A. Gera and Max Ganado were automatically elected as directors of the company with effect from the conclusion of the 58th annual general meeting. The other directors were confirmed in their posts.

The other equities which traded during the week appear below, followed by the range in which trading took place: 7,682 Lombard Bank shares between Lm5.60 and Lm5.20; 94 Middlesea Insurance shares at Lm3.29; 2,540 Simonds Farsons Cisk shares at Lm0.94; 5,500 Suncrest Hotels shares between Lm0.352 and Lm0.33; 46,400 FIMBank shares between USD1.219 and USD1.21; 5,700 Malta International Airport shares at Lm1.34 and 27,109 Datatrak shares between Lm0.18 and Lm0.175.

Total Malta Government Stock turnover amounted to a nominal value of Lm832,400 being traded in 102 deals over 20 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm57,908.

The Malta Stock Exchange Share Index decreased by 35.934 points or 1.06 per cent over the week and now stands at 3,433.083.

Azzopardi Investment Management Limited and its directors have an interest in the listed companies mentioned and may have an interest in other securities, commodities or currencies mentioned.