The Malta Stock Exchange index ended the week 5.39 per cent higher at 2,810.737 points, lifted by strength in the banking sector. This was instigated by positive six monthly results published by HSBC and Lombard Bank.
In a company announcement issued on Tuesday, the Board of Directors of Lombard Bank plc published the interim accounts for the six months ended June 30. These show an operating income figure of Lm2,156,000 (June 2003: Lm1.8 million), profits attributable to shareholders of Lm707,000 (June 2003: Lm464,000), and earnings per share of 17c5 (June 2003: 11c7).
Lombard Bank shares increased a total of 20c (4.878 per cent) over the week, opening Monday's session at Lm4.10 and closing that of yesterday at Lm4.30. Turnover amounted to 7,568 shares changing hands over eight deals. Following yesterday's trading session 505 shares at Lm4.30 and 14 shares at Lm4.48 were the best outstanding bids and offers respectively.
HSBC shares opened the week at Lm7.25, and after reaching a weekly high of Lm7.83 on Wednesday fell to Lm7.50 by the close of the week's trading yesterday representing an overall increase of 25c (3.48 per cent) during the week. In all 158,016 shares changed hands over 104 deals. Best bids for 1,000 shares at Lm7.25 and best offers of 1,400 shares at Lm7.49 remained unsatisfied as yesterday's session ended.
Bank of Valletta shares also experienced an impressive week after increasing by 34c9 (10.06 per cent) during the week to Lm3.82 at the close of yesterday's session after opening Monday's trading at Lm3.47,1. A total of 123 deals took place during the week in which 138,098 shares changed hands. Following the close of business yesterday best bids for 1,489 shares at Lm3.78 and best offers of 7,600 shares at Lm3.82 remained outstanding.
Trading in Maltacom shares opened the week at Lm1.39,5 on Monday and closed yesterday's session at Lm1.49,5. Thus, a total increase of 10c (7.168 per cent) took place in the price of these shares. Turnover amounted to 124,473 shares changing hands over 61 deals. Following yesterday's trading session, 12,500 shares at Lm1.40 and 2,676 shares at Lm1.49,9 were the best outstanding bids and offers respectively.
In a company announcement issued yesterday, the Board of Directors of Global Financial Services Group plc published the interim financial statements for the six months ended June 30. The statements show a turnover figure of Lm2,672,354 (June 2003: Lm2.4 million), profit for the period of Lm212,052 (June 2003 : Lm131,000), and earnings per share of 1c6 (June 2003: 1c).
The other equities which traded during the week appear below, followed by the range in which trading took place; 3,273 Middlesea Insurance shares between Lm2.12 and Lm2.10; 7,064 Simonds Farsons Cisk shares between Lm1.13 and Lm1.12; 8,000 International Hotel Investments shares at €0.75; 1,800 First International Merchant Bank plc shares at US$ 0.99; 15,000 Malta International Airport shares between 86c and 84c; 13,000 Global Financial Services shares at Lm1.02,5; 1,000 Datatrak Holdings p.l.c. shares at 21c4.
The Government of Malta will be issuing Lm50 million in bonds to the general public. The main issue will have an interest rate of 5.1 per cent and will mature on August 16, 2022. Applications open on Friday and close at noon on August 10 or earlier at the discretion of the Accountant General.
The Treasury will also be issuing two other MGSs to be added to the already listed 5.1 per cent MGS 2014 (III) and 5.4 per cent MGS 2010 (IV). These stocks can be applied for only in the form of sealed bids for amounts of Lm50,000 and above and at a price not less than Lm103.25 and Lm104.50 respectively per Lm100 nominal. Trading in these two MGSs is temporarily suspended.
Meanwhile, in the secondary market, total Malta Government Stock turnover amounted to a nominal value of Lm1,419,500 being traded in 129 deals over 18 different stocks. Trading over the week in Corporate Bonds was made up of a total value of Lm40,773.