Bank of Valletta shares continued their positive trend when they closed the week's trading at Lm2.75, up by 6c on the previous week's closing price. Trading during the week was conducted between the opening price of Lm2.69 and Lm2.75. Weekly turnover amounted to 33,551 shares changing hands over 30 deals. Following the close of business yesterday 1,500 shares at Lm2.71 were the best outstanding bids while 200 shares at Lm2.755 were the best offers still unsatisfied.
Meanwhile, in a company announcement issued yesterday, the bank's board of directors published the preliminary income statement for the year ended September 30, 2003. This shows a net interest income figure of Lm34,626,000 (year ended September 30, 2002: Lm30,564,000), profit attributable to shareholders of Lm10,386,000 (year ended 30 September 2002: Lm9,186,000) and earnings per share of 18c7 (year ended September 30, 2002: 16c6). A gross dividend of 11c per share is being proposed, the effective date for which is the November 7.
Trading in Maltacom shares was struck between Lm1.06 and Lm1.09 during the week. Yesterday's session saw the equity close at Lm 1.09, unchanged from the previous week's reading. During the week 34,200 shares were traded over 20 deals. After yesterday's session drew to a close best bids for 1,000 shares at Lm1.04 and best offers of 3,032 shares at Lm1.09 remained unsatisfied.
HSBC shares eased back on gains made in previous weeks after closing yesterday's session at Lm5.10. From Monday to Thursday trading was struck between Lm5.12 and Lm5.15, while yesterday's session saw one deal for 200 shares drop the price to Lm5.10. Seventeen deals were struck during the week over which 9,550 shares changed hands. Best bids for 2,190 shares at Lm4.40 and best offers of 200 shares at Lm5.149 remained outstanding at the close of business yesterday.
The other equities which traded during the week appear below, followed by the range in which trading took place: 3,550 Malta International Airport shares between Lm0.68 and Lm0.70; 475 International Hotels Investments shares at Lm0.825; 2,133 Simonds Farsons Cisk shares at Lm0.89; 6,000 Plaza Centres shares at Lm0.628 and 5,000 Datatrak Holdings shares at Lm0.275.
Total Malta Government Stock turnover amounted to a nominal value of Lm396,300 being traded in 42 deals over 15 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm516,219.
Dolmen Properties plc, a fully owned subsidiary of the Tumas Group, will be issuing Lm3 million bonds subject to an over-allotment option of a further Lm1.7 million. The secured bonds will have an interest of six per cent per annum and will mature on November 20, 2013, but with an option to be redeemed on November 20, 2010, 2011, or 2012. Interest on the bonds will be payable annually in arrears on November 20 of each year. The Bond Issue is secured by a trust deed and is covered by a sinking fund. Subscription lists open on Thursday, November 6, and will close on Wednesday, November12, or earlier at the discretion of the Issuer.
Meanwhile, the subscription lists of the issue of Lm3,500,000 6.4 per cent Gasan Finance Company plc Bonds 2008/11 closed soon after they opened on Thursday, with the company confirming that the over subscription option will be exercised thereby increasing the issue to Lm5,000,000.
The Malta Stock Exchange Share Index increased by 21.578 points or 1.01% over the week and now stands at 2,156.295.