More than €800 million in bonds, shares and stocks were issued last year, almost double the amount in 2008.

Malta Stock Exchange plc this week published its annual report and financial statements, ann-ouncing a profit before tax of €1.19 million.

Finance Minister Tonio Fenech said that, despite 2009 being a difficult financial year worldwide, Malta's economy remained stable and work was generated thanks to companies that were able to invest through such financing.

The stock exchange was being considered as an alternative and effective source of financing, showing confidence in the financial sector, Mr Fenech said.

He said the €800 million worth of bonds, shares and stocks did not just go to banks but were bought by over 70,000 financial entities, the government or individuals. About 70 per cent were bought by the public.

Market turnover during the year reached €553 million, up 13 per cent over last year.

This positive trend was continuing through this year, Mr Fenech said, and in the first four months there were already five new listings and an investment of €147 million.