Lombard bounces back

The price of Lombard Bank made a great comeback this week. The bank's share price had reached a peak of Lm9 at the beginning of the year following the announcement of a one for one share split but had since eased. On the contrary, this week, trading opened at Lm8.05 on Monday and increased by 69c9 (8.7 per cent) to end yesterday's session at Lm8.74,9. Total turnover amounted to 4,520 shares changing hands over 27 deals. At the end of yesterday's session, best unsatisfied bids for 340 shares at Lm8.55 stood against best unsatisfied offers of 679 shares at Lm8.74,9.

Bank of Valletta shares opened the week at Lm4.09 on Monday, ranged between Lm4.12 and Lm3.93,9 during the week and ended yesterday's session at Lm3.95. Total turnover amounted to 543,062 shares changing hands over 1,003 deals for a total market value of Lm2,184,653. This represented 57 per cent of the total value of shares transacted during the week in the regular market. Another 8,089 shares exchanged hands in nine deals in the put-through market. At the end of yesterday's session, best unsatisfied bids for 500 shares at Lm3.94 stood against best unsatisfied offers of 500 shares at Lm3.95,4.

HSBC's share price went up by 42c5 during the week. The share price opened on Monday at Lm8.34,5 and closed the week at Lm8.77 representing an increase of 5.1 per cent on its opening position. Trading consisted of 87,685 shares changing hands over 204 deals. Best bids for 49 shares at Lm8.77 and best offers of 1,000 shares at Lm8.80 remained unsatisfied when yesterday's session drew to a close.

Meanwhile, Maltacom shares opened trading at Lm1.92 on Monday and closed yesterday's session at Lm1.95. Trading during the week ranged between Lm1.95 and Lm1.91,1, with total turnover amounting to 201,729 shares. These shares changed hands over 151 deals. Another 233,000 shares were transacted in the put-through market in two deals. Following the close of business yesterday, best unsatisfied bids for 2,000 shares at Lm1.94,4 stood against best unsatisfied offers of 8,584 shares at Lm1.95.

Yesterday, the company announced that it had been informed by the Privatisation Unit that following the receipt of binding offers for the purchase of the government's 60 per cent shareholding in Maltacom plc, an evaluation and adjudication committee had been appointed under the chairmanship of Emanuel Ellul.

The other equities which traded during the week , followed by the range in which trading took place are; 6,034 Middlesea Insurance shares between Lm4.20 and Lm4; 3,140 Simonds Farsons Cisk shares between 90c and 84c; 50,469 International Hotel Investments shares between €0.85 and €0.80; 5,000 Plaza Centres shares between 70c and 69c9; 314,802 FIMBank shares at US$2; 1,660 Global Financial Services between Lm1.29 and Lm1.25; 169,830 Malta International Airport shares between Lm1.58 and Lm1.45 and 2,927 Datatrak holding shares between 31c and 29c.

Total Malta government stock turnover amounted to a nominal value of Lm476,800 being traded in 73 deals over 21 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm90,817.

The Malta Stock Exchange Share Index increased by 120.331 points or 2.3 per cent over the week and now stands at 5,296.061.

Azzopardi Investment Management Limited is licensed by the MFSA to provide investment services, including stockbroking. The directors or related parties, including the company, and their clients, are likely to have an interest in the securities mentioned. This article is only meant to provide information and is not intended to give investment advice. The value of securities, and the currencies in which they are denominated, may go down as well as up.