Equities in summer lull

Bank of Valletta shares opened this week's trading at Lm5.00 and during the week ranged between Lm5.01 and the closing price of Lm4.98. This amounted to a decrease of 2c on the previous week's reading. Weekly turnover amounted to 94,140 shares changing hands over 55 deals. At the end of yesterday's session, bids for 1,000 shares at Lm4.951 and offers of 1,210 shares at Lm4.99 made up the best unsatisfied closing positions.

HSBC shares opened the week at Lm5.50, went up to Lm5.502 during the week, before going down again to end yesterday's trading session at Lm5.42. Total volume transacted amounted to 62,936 shares changing hands in 92 deals. Following the close of business yesterday, 1,000 shares at Lm5.41 were the best outstanding bids while 1,500 shares at Lm5.45 were the best offers still unsatisfied.

Lombard Bank shares opened the week at Lm5.651 on Tuesday and gained 4c9 during the week to end Thursday's session at Lm5.70. This week's closing price was the highest closing price ever recorded by this bank on the Malta Stock Exchange. Trading for the week consisted of 1,387 shares changing hands over three deals. As yesterday's session drew to a close, best bids for 250 shares at Lm5.75 stood against best offers of 709 shares at Lm6.50.

Meanwhile, Maltacom shares traded between Lm1.39 and Lm1.35 during the week, with the former being the opening price on Tuesday, while the latter was the closing level yesterday. This was down by 4c on the previous week's closing price. In total, 75,220 shares changed hands during the four sessions of this week, spread over 34 deals. Following the end of yesterday's session 4,500 shares at Lm1.34 and 1,500 shares at Lm1.35 were the best outstanding bids and offers respectively.

Following are the other equities which traded during the week, followed by the range in which trading took place: 2,671 Middlesea Insurance shares at Lm3.12; 1,195 Simonds Farsons Cisk shares between Lm0.88 and Lm0.851; 22,000 Plaza Centres shares between Lm0.59 and Lm0.57; 30,000 FIMBank shares at USD1.30; 17,480 Malta International Airport shares between Lm1.35 and Lm1.33; 1,110 Global Financial Services shares at Lm1.20 and 13,031 Datatrak shares between Lm0.25 and Lm0.24.

Total Malta Government Stock turnover amounted to a nominal value of Lm805,100 being traded in 43 deals over 14 different stocks. Of these, a nominal value of Lm540,500 changed hands in the newly listed 5.5 per cent MGS 2021 (I) FI Tranche C over 17 deals. Trading kicked off at Lm104.60 and closed the week's trading at Lm105.25 the highest ever price for this bond. Trading over the week in corporate bonds was made up of a total value of Lm93,884.

The Malta Stock Exchange share index decreased by 34.845 points or 0.98 per cent over the week and now stands at 3,519.863.

Azzopardi Investment Management Limited and its directors have an interest in the listed companies mentioned and may have an interest in other securities, commodities or currencies mentioned.

Report by Azzopardi Investment Management Limited, tel. 2131 3100 fax 2131 8897