Trading in HSBC shares opened the week at Lm8.10 on Monday and gained 88c (11 per cent) during the week to end yesterday's session at Lm8.98. Trading for the week consisted of 37,155 shares changing hands over 57 deals. During the week trading ranged between Lm8.999 and Lm8.10. Best bids for 500 shares at Lm8.06 and best offers of 520 shares at Lm8.98 remained unsatisfied when yesterday's session drew to close.
Bank of Valletta shares opened the week's trading at Lm4.681 on Monday and went up to close at Lm4.72 as yesterday's session ended. During the week, trading ranged between Lm4.721 and Lm4.681. A total of 34,302 shares changed hands during the week over 72 deals. At the end of yesterday's session, bids for 1,000 shares at Lm4.72 and offers of 1,530 shares at Lm4.749 made up the best unsatisfied closing positions.
Meanwhile, Maltacom shares witnessed an increase of 17c (11 per cent) during the week after Monday's trading session opened at Lm1.60, while yesterday's session closed at Lm1.77. Total turnover for the week amounted to 89,888 shares changing hands over 96 deals. At the close of business yesterday, best bids for 1,500 at Lm1.75 and best offers for 3,974 shares at Lm1.77 remained outstanding.
In a company announcement, Maltacom plc announced that on Thursday the first extraordinary general meeting was convened whereby one ordinary resolution submitted by the Government and two extraordinary resolutions submitted, one by the Government and the other by the board of directors, were approved.
In another company announcement, Middlesea Insurance plc announced that four special trades took place on the Malta Stock Exchange yesterday, wherein the Government sold 7.85 per cent of its shareholding in the company and Air Malta plc sold its 7.33 per cent shareholding in the company, to Corporacion Mapfre S.A. which have thereby increased their existing holding from 5.49 per cent to 20.66 per cent. These trades were all executed at a price of Lm3 per share.
The Government now holds a balance of 7.93 per cent shareholding in the company. Meanwhile, in the regular market, nine deals were transacted in Middlesea Insurance plc, between the opening price of Lm2.50 and the closing price of Lm2.60 for a total of 3,629 shares.
The other equities which traded during the week appear below, followed by the range in which trading took place; 9,424 Simonds Farsons Cisk shares at Lm1.12; 5,000 Suncrest Hotels shares between Lm0.352 and Lm0.306; 54,076 International Hotels Investments shares between €0.80 and €0.75; 40,000 Plaza Centres shares between Lm0.63 and Lm0.65; 55,200 FIM Bank shares between USD1.07 and USD1.06; 13,146 Malta International Airport shares between Lm1.19 and Lm1.151; 1,500 Global Financial Services shares between Lm1.124 and Lm1.060; 7,500 Datatrak shares at Lm0.20.
Total Malta Government Stock turnover amounted to a nominal value of Lm1,684,800 being traded in 47 deals over 16 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm82,311.
The Malta Stock Exchange share index increased by 182.97 points or 5.82 per cent over the week and now stands at 3,326.725.
Report by Azzopardi Investment Management Limited, tel. 21 313100, fax. 21 318897www.azzopardi.com