Healthy demand increased the price of Lombard Bank by 15c during yesterday's trading session to end the week's trading at an all time high of Lm6.65. In all the price gained 20c (3.1%) during the week to reach this unprecedented position. Lombard Bank shares opened on Monday at Lm6.45. Trading for the week consisted of 8,453 shares changing hands over ten deals. Following the end of yesterday's session, best bids for 500 shares at Lm6.65 remained unsatisfied. There were no offers outstanding.
An increase of 3c8 was registered over the week in Bank of Valletta's share price, as trading in the equity opened at Lm5.45 on Monday and closed at Lm5.488 yeaterday. In the interim, the equity reached a weekly high of Lm5.50. A total of 24,477 shares changed hands during the week spread over forty-three deals. As Friday's session drew to a close, best unsatisfied bids for 900 shares at Lm5.481 stood against best unsatisfied offers of 3,779 shares at Lm5.488.
Yesterday, Bank of Valletta p.l.c. announced that it had purchased from Münchener Rückversicherungs-Gesellschaft of Munich, Germany, their 10% shareholdings in Middlesea Valletta Life Assurance Co Ltd (MSV) consisting of 860,000 ordinary shares and from Middlesea Insurance plc of Middlesea House, Floriana, a 1% shareholding in MSV consisting of 86,000 ordinary shares. Following these purchases, Bank of Valletta plc. now holds 50% of MSV's total equity represented by 4,300,000 ordinary shares of one Maltese lira each fully paid up.
Concurrent with Bank of Valletta's company announcement regarding the purchase of additional shares in Middlesea Valletta Life Assurance Co. Ltd, Middlesea Insurance plc. also announced such event. As a consequence of the sale transaction to BOV, the new holding of Middlesea Insurance plc. in Middlesea Valletta Life Assurance Co. Ltd. now stands at 50%. The other 50% of MSV's total equity is held by Bank of Valletta plc.
Middlesea Insurance plc. has become aware that the Government of Malta has been approached by Münchener Rückversicherungs-Gesellschaft, which has expressed its interest in acquiring from the Government of Malta a further 7% shareholding in Middlesea Insurance plc. Negotiations as to the terms and conditions (including the price) are taking place. Once the transaction goes through, Munich Re shareholding will rise to 19.99%.
Meanwhile, Maltacom shares opened the week at Lm1.501 on Monday went down to Lm1.41 during the week before edging up to close the week's trading at Lm1.45. A total of 33,218 shares changed hands during the week, spread over seventeen deals. Following the close of business yesterday, best bids for 1,535 shares at Lm1.45 stood against best offers of 1,000 shares at Lm1.48.
This week Maltacom plc. gave a very professional and informative presentation to stockbrokers and financial professionals. The presentation was addressed by Mr. Sonny Portelli, Group Chairman, Mr. Joe. Azzopardi; Group Operations Officer and Mr. Edgar Borg; Finance Director. The presentation was backed by very attractive documentation.
HSBC's shares continued their positive performance this week after trading opened at Lm6.095 on Monday and went up to close yesterday's trading session at Lm6.37, equal to a gain of 28c1 on the previous week's closing position of Lm6.089. During the current week, the price of this equity ranged between Lm6.40 and Lm6.05. Sixty-seven deals were struck during the week, over which 48,550 shares changed hands. As yesterday's session drew to a close, best unsatisfied bids for 150 shares at Lm6.25 stood against best unsatisfied offers of 755 shares at Lm6.39.
In a company announcement issued on Monday, HSBC Bank Malta p.l.c. announced that HSBC Life Assurance (Malta) Limited has on the 16 September 2005 increased the issued share capital by Lm500,000 divided into 1,000,000 ordinary shares of Lm0.50 each fully paid up. The shares were fully subscribed by HSBC Bank Malta p.l.c. The share capital was increased by an injection of capital in cash by the parent company HSBC Bank Malta p.l.c.
The other equities which traded during the week appear below, followed by the range in which trading took place; 1,300 Middlesea Insurance shares between Lm3.05 and Lm3.10; 24,749 International Hotel Investments shares between EUR0.685 and EUR0.70; 15,000 Plaza Centres shares at Lm0.60; 18,794 Malta International Airport shares between Lm1.39 and Lm1.42; 4,666 San Tumas Shareholdings plc shares at Lm1.00 and 100 Datatrak shares at Lm0.28.
Total Malta Government Stock turnover amounted to a nominal value of Lm410,800 being traded in forty-seven deals over twenty-one different stocks. Trading over the week in corporate bonds was made up of a total value of Lm40,223. The Malta Stock Exchange Share Index increased by 71.113 points or 1.85% over the week and now stands at 3,923.827.
Azzopardi Investment Management Limited is licensed by the MFSA to provide investment services, including stockbroking. The company is involved in acting as sponsoring and corporate stockbroker for various listed companies. The Directors or related parties, including the company, and their clients, are likely to have an interest in securities mentioned.
This article is only meant to provide information, which the writer believes to be accurate at the time of writing, and is not intended to give investment advise and its contents should not be construed as such. The value of securities, and the currencies in which they are denominated, may go down as well as up. Readers are requested to seek professional financial advice tailored to their own personal circumstances.