The price of Maltacom plc increased by 5.7 per cent during the week. This happened following a company announcement issued on Monday, whereby Maltacom p.l.c. stated that the government of Malta has decided to appoint Lehman Brothers Europe as its financial advisors for the sale of its 60 per cent shareholding in the company. Trading opened the week at Lm1.43 on Monday, went up to Lm1.60 on Wednesday before easing back to close at Lm1.511 yesterday. Turnover amounted to 164,414 shares changing hands over a total of 135 deals. Best bids for 1,550 shares at Lm1.511 and best offers for 2,000 shares at Lm1.529 remained outstanding at the close of trading yesterday.
Bank of Valletta shares opened the week at Lm4.063 on Monday and went on to close at Lm4.12 as yesterday' s session ended. The price ranged between Lm4.165 and Lm4.05. A total of 55,241 shares changed hands during the week over 96 deals. Following close of business yesterday best bids for 950 shares at Lm3.90 and best offers for 1,094 shares at Lm4.15 remained outstanding.
HSBC shares eased back and lost 6c5 during the week to end yesterday's session at Lm7.23 after opening at Lm7.295 on Monday. Total turnover amounted to 13,985 shares changing hands over 25 deals. As yesterday's session drew to a close 200 shares at Lm7.23 and 1,675 shares at Lm7.25 were the best unsatisfied bids and offers respectively.
Meanwhile, in a company announcement issued on Wednesday, HSBC Bank Malta p.l.c. announced that Chris Hothersall has resigned from the post of director and chief executive officer. Clive Shaun O' Neil Wallis, a director himself and an executive of HSBC Group since 1978 has been appointed CEO in replacement of Mr Hothersall.
Simonds Farsons Cisk plc once again hit the all time high of Lm1.20, which price had last been reached in January of the year 2000, on Wednesday, September 1, 2004, when the session closed at that level after opening at Lm1.14. Trading during the week was made up of five deals for a total of 4,421 shares. As yesterday's session drew to a close 701 shares at Lm1.12 and 500 shares at Lm1.19 were the best unsatisfied bids and offers respectively.
The other equities which traded during the week appear below, followed by the range in which trading took place; 2,479 Lombard Bank shares between Lm4.10 and Lm4.095; 341 Middlesea Insurance shares at Lm2; 66,778 International Hotels Investments shares at €0.80; 24,110 Malta International Airport shares between Lm0.91 and Lm0.90; and 12,687 Datatrak Holdings p.l.c. shares between Lm0.28 and Lm0.26.
In two separate company announcements, the board of directors of Simonds Farsons Cisk plc and that of Plaza Centres plc announced that they are scheduled to meet on September 29, 2004 and September 14, 2004 respectively to approve the companies' half yearly financial statements.
In another company announcement issued yesterday, Lombard Bank Malta p.l.c. stated that Marcel Cassar will be relinquishing his position as general manager with effect from September 29, 2004.
Total Malta Government Stock turnover amounted to a nominal value of Lm765,100 being traded in 58 deals over 19 different stocks. Trading over the week in Corporate Bonds was made up of a total value of Lm123,416.
The Malta Stock Exchange share index increased by 39.42 points or 1.4 per cent over the week and now stands at 2,856.235.