BoV closes above Lm4

Bank of Valletta had the highest equity turnover for the week, with trading opening at Lm3.81 on Monday and going up to close on Friday at Lm4.052. The price ranged between Lm4.10 and Lm3.81.

Total turnover amounted to 44,173 shares, changing hands over 45 deals. Following the close of business on Friday best bids for 2,044 shares at Lm4.052 and best offers of 1,000 shares at Lm4.10 remained outstanding.

HSBC Bank Malta shares opened the week at Lm7.17 on Monday and closed at Lm7.30 on Friday. A total of 36,574 shares changed hands during the week over 49 deals.

At the end of Friday's session, bids for 343 shares at Lm7.285 and offers of 1,720 shares at Lm7.30 made up the best closing positions.

Trading in Maltacom started at Lm1.44 on Monday and closed at Lm1.43 on Friday. A total of 33,800 shares changed hands during the week over 18 deals.

Following the close of trading on Friday best bids for 2,988 shares at Lm1.43 stood against best offers of 3,500 shares at Lm1.45.

The other equities which traded during the week, with the trading range in brackets, are: 730 Lombard Bank shares (Lm4.10-Lm4.09); 4,045 Middlesea Insurance shares (Lm2); 529 Simonds Farsons Cisk shares (Lm1.13); 867 Suncrest Hotels shares (Lm0.299); 37,450 International Hotels Investments shares (€0.81-€0.80); 9,590 Plaza Centres plc shares (Lm0.68-Lm0.67); 16,986 Malta International Airport shares (Lm0.90-Lm0.87); and 3,370 Datatrak Holdings plc shares (Lm0.286-Lm0.27).

On Friday, the board of directors of FIMBank plc published the accounts for the six months ending on June 30. These show a net interest income of US$1,913,253, a loss for the period of $98,029 and a loss per share of 0c15.

The board decided not to pay an interim dividend. Comparisons with the relevant period last year cannot be made, given that FIMBank became a group after acquiring full ownership of London Forfaiting Company at the end of August 2003.

However, figures for the bank alone as at June 30, 2003, read: net interest income of $1,048,952; profit for the period of $889,165; and earnings per share of 1c93.

In a separate company announcement, the FIMBank board announced that Claude L. Roy, president, decided to retire due to personal reasons and is going to be replaced by Margrith Lutschg-Emmenegger with effect from Wednesday. In addition, the board announced the retirement of Mehdi Ouazzani Hassani from the post of vice-chairman and announced that Dr John C. Grech has been appointed vice-chairman with immediate effect.

Total Malta Government Stock turnover amounted to a nominal value of Lm1,577,400, being traded in 71 deals over 17 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm97,999.

Dealing in the newly listed 5.1% MGS 2022 (I) commenced on Wednesday. Total turnover in this bond amounted to a nominal value of Lm536,500, being traded in 16 deals. Trading kicked off at Lm100 and closed the week at Lm100.42 on Friday.

The Malta Stock Exchange Share Index rose by 65.78 points or 2.39% over the week and now stands at 2,816.820.