HSBC up 3.3% on week

HSBC shares continued their positive performance this week after trading opened at Lm5.13 on Monday and went up to close yesterday's session at Lm5.30, equal to a gain of 20c on the previous week's reading. Thirty-four deals were struck during the week, over which 25,369 shares were traded. Best bids for 230 shares at Lm5.30 and best offers of 230 shares at Lm5.31 remained unsatisfied as yesterday's session drew to a close.

Of the nine deals struck during the week in Maltacom shares, six were executed yesterday. The equity opened trading on Tuesday at Lm1.08, which was also the closing level at the close of business yesterday. A total of 6,506 shares changed hands during the week. Following yesterday's trading session 1,250 shares at Lm1.05 and 286 shares at Lm1.08 were the best unsatisfied bids and offers respectively.

Bank of Valletta shares opened trading at Lm2.76 on Monday, saw trading range between Lm2.76 and Lm2.64 during the week before coming to a close at Lm2.66 yesterday. Weekly turnover amounted to 59,430 shares changing hands over 51 deals. As trading drew to a close yesterday, 200 shares at Lm2.45 and 4,250 shares at Lm2.658 were the best outstanding bids and offers respectively.

In a company announcement issued on Monday, the board of directors of FIMBank plc stated that it has approved a rights issue which will increase the share capital by USD15 million. The issue will consist of 20 million new shares of a nominal value of USD0.50 each, and will be offered at a price of USD0.75 per share.

For every 23 existing ordinary shares, shareholders on the company's register as at the close of business on Wednesday, November 12, 2003, will be offered ten new shares. These rights can be transferred in part or in full in favour of a third party.

The other equities which traded during the week appear below, followed by the range in which trading took place: 700 Malta International Airport shares at Lm0.699; 2,508 International Hotels Investments shares at Lm0.825; 8,000 Lombard Bank Malta shares between Lm3.70 and Lm3.71; 1,195 Simonds Farsons Cisk shares at Lm0.90 and 5,650 Plaza Centres shares at Lm0.620 and Lm0.621.

The Dolmen Properties plc bond issue of six per cent secured bonds maturing 2010/13 closed 90 minutes after subscription lists opened on Thursday due to heavy demand. The company decided to exercise the over-allotment option to increase the bond issue to Lm4.7 million.

Total Malta Government Stock turnover amounted to a nominal value of Lm1,134,600 being traded in 65 deals over 21 different stocks. Of these a nominal value of Lm670,000 was struck in the 5.4 per cent MGS 2010 (IV) alone. Trading over the week in Corporate Bonds was made up of a total value of Lm138,908.

The Malta Stock Exchange Share Index increased by 4.913 points or 0.23 per cent over the week and now stands at 2,162.55.