BoV up 8% on week

Bank of Valletta shares opened at Lm4.20 and gained 35c during the week to close at Lm4.55 on Friday. Total turnover amounted to 112,558 shares, changing hands over 241 deals. The price ranged between Lm4.20 and Lm4.81.

At the end of Friday's session, bids for 1,992 shares at Lm4.55 and offers of 3,200 shares at Lm4.60 made up the best unsatisfied closing positions.

In a company announcement, Bank of Valletta plc stated that in a letter dated October 8 the Government's Privatisation Unit informed the bank that the Government of Malta and Banco di Sicilia SpA have signed a Memorandum of Understanding to initiate a process leading to the joint appointment of an independent financial adviser and the joint sale of their shareholding in the bank to a strategic investor.

In a separate announcement issued on Friday, the bank's board stated that a meeting is going to be held on October 29 to consider and approve the group's and the bank's audited financial statements for the financial year ended September 30 and to consider the declaration of a final dividend to be recommended to the bank's annual general meeting.

HSBC Bank Malta's shares opened at Lm7.488 on Monday and closed at Lm7.499 on Friday. Total turnover amounted to 10,751 shares, changing hands over 23 deals.

At the end of Friday's session 340 shares at Lm7.46 and 3,255 shares at Lm7.499 were the best unsatisfied bids and offers, respectively.

The price of Maltacom shares increased by 8.966% during the week. Trading opened at Lm1.45 on Monday and closed up 13c at Lm1.58 on Friday. Total turnover amounted to 193,919 shares changing hands over 127 deals.

As Friday's session drew to a close, bids for 2,000 shares at Lm1.55 and offers of 2,142 shares at Lm1.58 made up the best unsatisfied closing positions.

Maltacom plc's board of directors announced that it has decided to commence the process which will lead to the merger by acquisition of its fully owned subsidiary company Technical and Management Services Limited.

In another company announcement on Wednesday, Datatrak Holdings plc confirmed that its board of directors is meeting on October 25 to approve for publication the interim financial statements for the period January 1 to June 30.

On Wednesday, the board of directors of International Hotel Investments plc published the interim financial statements for the six months ended June 30. These show a revenue figure of €22,341,319 (Jun 03: €16.3 million); loss for the period of €1,024,734 (-€7.7 million); and loss per share of 1c (-6.5c).

The other equities which traded during the week, with the trading range in brackets, were: 1,188 Lombard Bank shares (Lm4.25-Lm4.20); 1,335 Middlesea Insurance plc shares (Lm2.152-Lm2.13); 1,800 Simonds Farsons Cisk shares (Lm1.188 -Lm1.187); 18,767 IHI shares €0.81-€0.75); 70,200 Malta International Airport shares (Lm1.07-Lm1.05); 4,800 Global Financial Services shares (Lm1.20-Lm1.10); 3,774 Santumas Shareholdings plc shares (Lm0.83-Lm0.755).

Total Malta Government Stock turnover amounted to a nominal value of Lm203,400, being traded in 55 deals over 18 different stocks.

Trading over the week in corporate bonds was made up of a total value of Lm127,919.

The Malta Stock Exchange Share Index rose 133.009 points or 4.586% over the week and now stands at 3,033.086.

Report by Azzopardi Investment Management Limited, tel: 2131-3100, fax 2131-8897 www.azzopardi.com