Bonds preferred

The amount of Bonds transacted during the week amounted to Lm1,387,847 in value while that of shares amounted to Lm229,968. Total Malta Government Stock turnover amounted to a nominal value of Lm1,256,500 being traded in 59 deals over 22 different stocks. Trading over the week in Corporate Bonds was made up of a total value of Lm90,420. On the equities side, 87,020 shares were transacted during the week on the Malta Stock Exchange.

Lombard Bank opened trading on Monday at Lm3.744 and went on to close at Lm4.04 yesterday after experiencing an increase of 29c6 (7.906 per cent) over the week's trading.

A total of 13,082 shares changed hand over the week, spread over 18 deals. 1,356 shares at Lm3.69 and 2,274 shares at Lm4.04 were the best unsatisfied bids and offers respectively at the close of business yesterday.

Bank of Valletta shares opened the week at Lm3.40 and closed the week's trading at the same price yesterday. A total of 33,244 shares changed hands over the week in 44 deals ranging between Lm3.40 and Lm3.399. As yesterday's session drew to a close 37 shares at Lm3.30 and 4,470 shares at Lm3.40 were the best unsatisfied bids and offers respectively.

Meanwhile, HSBC shares witnessed a decrease of 6c during the week after Monday's trading session opened at Lm6.48, while yesterday's session closed at Lm6.42. During the week the price ranged between Lm6.50 and Lm6.42. Total turnover for the week amounted to 6,070 shares changing hands over 11 deals. At the close of the business yesterday, best bids for 1,300 shares at Lm6.421 and best offers for 1,500 shares at Lm6.49 remained outstanding.

Maltacom shares opened at Lm1.305 on Monday and closed the week's trading at Lm1.29 yesterday. 10,859 shares changed hands in total, over nine deals. 2,515 shares at Lm1.29 and 2,200 shares at Lm1.295 were the best unsatisfied bids and offers respectively after yesterday's session came to a close.

The other equities which traded during the week appear below, followed by the range in which trading took place: 180 Middlesea Insurance plc shares between Lm2.11 and Lm2.10; 1,200 Suncrest Hotels shares at Lm0.248; 10,000 International Hotels Investment shares at €0.79; 4,000 First International Merchant Bank shares at USD1.00; 8,385 Malta International Airport shares between Lm0.835 and Lm0.83.

In a company announcement issued on Monday, the Board of Directors of Middlesea Insurance plc stated that the extraordinary resolution that would allow the company to acquire a number of its own shares was approved during the Annual General Meeting. Furthermore, since there were as many nominations as there were vacancies no elections took place. M.C. Grech and J.F.X. Zahra remained chairman and deputy chairman respectively.

The Malta Stock Exchange share index decreased by 14.418 points or 0.5672 per cent over the week and now stands at 2,527.616.