Suncrest Hotels plc shares traded for the first time in 18 months yesterday when 500 shares changed hands at Lm0.49. This represents a drop of 11c from the last closing price, which was registered on February 25, 2002. By the end of the week there were no bids left, while 2,952 shares at Lm0.539 were the best unsatisfied offers.
Bank of Valletta shares opened the week's trading at Lm2.379 on Tuesday, and went down to close the week at Lm2.35. Ten deals were struck in all, over which 8,398 shares changed hands. 300 shares at Lm2.34 and 2,692 shares at Lm2.35 were the best outstanding bids and offers respectively at the close of yesterday's session.
In a company announcement issued yesterday, the Board of Directors of Maltacom plc published the Preliminary Statement of Group Results for the six months ended on June 30. These show a turnover figure of Lm27,014,000 (six months ended June 30, 2002: Lm25,953,000), profit for the period of Lm3,266,000 (six months ended June 30, 2002: Lm3,754,000) and earnings per share of 3c2 (six months ended June 30, 2002: 3c7). A Provision for Value Added Tax assessments raised in 2002 and which is still under appeal, on International Incoming Inter-connection Traffic amounting to Lm2.3 million and marked as an exceptional item was included in the Financial Statements.
Meanwhile, Maltacom shares closed the first session of the week at Lm1.08 on Monday, up by 3c1 on the previous closing price. Subsequently the equity went on to close the week at Lm1.094. Total turnover for the week amounted to 51,268 shares changing hands over 31 deals. Following the close of business yesterday, best bids for 2,500 shares at Lm1.065 and best offers of 850 shares at Lm1.094 remained unsatisfied.
Trading in HSBC shares opened at Lm4.77 on Monday, ranged between Lm4.75 and Lm4.795 during the week, before ending yesterday's session at Lm4.77 again. 16,350 shares changed hands during the week, spanning 21 deals. As yesterday's session drew to a close, 350 shares at Lm4.77 remained as best bids outstanding, while 2,000 shares at Lm4.79 were the best unsatisfied offers.
In a company announcement issued on Tuesday, the Board of Directors of First International Merchant Bank plc stated that a rival bid for London Forfaiting Company plc was made by Resurge plc. This is being proposed on the basis of an all share offer of 3.43 new Resurge plc shares for each LFC share. Meanwhile, approximately 64.7 per cent of LFC shareholders have already accepted FIMBank's bid. Another company announcement issued by FIMBank stated that the Offer has been extended and will remain open for acceptance until next Tuesday.
The other equities which traded during the week appear below, followed by the range in which trading took place: 22,700 International Hotel Investments shares between Lm0.83 and Lm0.841; 6,000 Malta International Airport shares at Lm0.69; 356 Middlesea Insurance shares at Lm2.449; 250 Plaza Centres shares at Lm0.699; 1,480 Simonds Farsons Cisk shares at Lm0.77; 10,700 Global Financial Services Group plc shares between Lm1.00 and Lm1.03 and 1,000 Datatrak shares at Lm0.315.
Total Malta Government Stock turnover amounted to a nominal value of Lm957,300 being traded in 73 deals over 18 different stocks. Of these, a nominal value of Lm498,400 changed hands in the 5.5 per cent MGS 2023, while a nominal value of Lm283,800 changed hands in the 5.1 per cent MGS 2014 (III). Trading over the week in Corporate Bonds was made up of a total value of Lm234,246.
The Malta Stock Exchange share index decreased by 0.589 points or 0.03 per cent over the week and now stands at 2,030.908.