The Malta Stock Exchange Share Index decreased by 96.63 points or 1.94% over the week and now stands at 4,884.069. This week marked a decline in the closing price of three banks when compared to their opening positions at the beginning of this week including HSBC (3.125%), Bank of Valletta (2.278%) and Lombard Bank (1.111%). The gainers were Plaza Centres, Middlesea Insurance and International Hotels Investment, which witnessed increases of 2.794%, 0.817% and 0.223%. The other listed equities closed the week in a neutral position.
Bank of Valletta edged lower this week when trading in the equity opened on Tuesday at Lm7.419, went down to Lm7 during Thursday's session before closing at Lm7.25 yesterday. This was down by 17c from the previous week's close of Lm7.42. In total, 100,247 shares changed hands during the week, spread over two hundred and four deals. As yesterday's session drew to a close, best unsatisfied bids for 1,512 shares at Lm7.25 stood against best unsatisfied offers of 740 shares at Lm7.35.
HSBC shares also eased back on gains made in previous weeks after trading opened at Lm8 on Tuesday and closed the week's trading at Lm7.75 representing a drop of 25c (3.125%). In the interim, the equity reached a weekly low of Lm7.50. Ninety-five deals were struck during the week, over which 36,348 shares were traded. Best bids for 4,148 shares at Lm7.68 and best offers of 1,245 shares at Lm7.75 remained unsatisfied as yesterday's session drew to a close.
Meanwhile, Lombard Bank shares traded between Lm9 and Lm8.90 during the week, with the former being the opening price on Tuesday, while the latter was the closing level on Wednesday. This marked a decrease of 10c from the Bank's highest closing price ever recorded. In total, 285 shares changed hands during the two sessions of this week, spread over three deals. Following the end of yesterday's trading session 160 shares at Lm7.65 and 350 shares at Lm8.83 were the best outstanding bids and offers respectively.
Turnover in Maltacom shares amounted to one hundred and twenty-three deals being struck over 201,291 shares. The equity opened trading on Tuesday at Lm1.84, and closed at the same level yesterday. During the current week, the equity reached a weekly low of Lm1.76. Following the close of business yesterday, best unsatisfied bids for 2,000 shares at Lm1.80 stood against best unsatisfied offers of 1,775 shares at Lm1.84.
On Tuesday, Maltacom plc announced that its fully owned subsidiary Terranet Limited has changed its name to Datastream Limited with immediate effect.
The other equities which traded during the week appear below, followed by the range in which trading took place; 1,859 Middlesea Insurance shares between Lm3.67 and Lm3.75; 2,200 Simonds Farsons Cisk shares at Lm0.87; 80,790 International Hotels Investment shares between EUR0.898 and EUR0.92; 7,200 Plaza Centres shares between Lm0.68 and Lm0.699; 39,520 FIMBank shares at USD2.01; 332,170 Malta International Airport shares between Lm1.55 and Lm1.56 and 3,185 Datatrak shares at Lm0.31.
Total Malta Government Stock turnover amounted to a nominal value of Lm181,800 being traded in thirty-two deals over fourteen different stocks. Trading over the week in corporate bonds was made up of a total value of Lm194,433.
Azzopardi Investment Management Limited is licensed by the MFSA to provide investment services, including stockbroking. The Directors or related parties, including the company, and their clients, are likely to have an interest in securities mentioned. This article is only meant to provide information and is not intended to give investment advice. The value of securities, and the currencies in which they are denominated, may go down as well as up.
Report by Azzopardi Investment Management Limited, tel. 21 313100, fax. 21 318897.