Index down one per cent

The Malta Stock Exchange share index decreased by 43.256 points or 1.26 per cent over the week and now stands at 3,378.448.

Bank of Valletta shares opened the week at Lm4.90 on Monday and closed yesterday's session at Lm4.89c7. Total turnover amounted to 24,679 shares changing hands over 38 deals. During the week, trading ranged between Lm4.90 and Lm4.89c5. As yesterday's session drew to a close, 210 shares at Lm4.85 and 375 shares at Lm4.89c7 were the best unsatisfied bids and offers respectively.

Trading in HSBC shares opened the week at Lm4.91, went down to Lm4.86 during the week, before going up again to end yesterday's session at Lm4.90. Total turnover amounted to 17,295 shares changing hands over 33 deals.

At the end of yesterday's session, bids for 5,000 shares at Lm4.85 and offers of 905 shares at Lm4.90 made up the best unsatisfied closing positions.

Meanwhile Maltacom shares eased back and lost 13c during the week to end yesterday's session at Lm1.35c5 after opening at Lm1.48c5 on Monday.

A total of 35,372 shares changed hands during the week, spread over eight deals. At the end of the session, bids for 900 shares at Lm1.36c1 and offers of 1,900 shares at Lm1.40 made up the best unsatisfied closing positions.

In a company announcement issued yesterday, Maltacom plc stated that all the ordinary resolutions put on the agenda were approved at the annual general meeting.

This includes the approval of a net dividend payment of 2c1 to all shareholders registered at the closure of business on April 22. Furthermore, the government has appointed Saviour Portelli as chairman and Vince Farrugia, Alexander Tranter, Alfred Rizzo and Chris Said as its directors on the board. John Ellul Vincenti, Peter J. Baldacchino and Paul Testaferrata Moroni Viani were automatically appointed company directors in view of the fact that these were the only three vacant directorships. In another company announcement issued yesterday, Global Financial Services Group plc stated that all the ordinary resolutions put on the agenda were approved at the annual general meeting. This includes the approval of a net dividend payment of 1c95 to all shareholders registered at the closure of business on April 14.

Furthermore, Christopher J. Pace, James Blake, Dawood Rawat, Muni Krishna T. Reddy, Nicholas Ashford Hodges, Gary Marshall and Andrew Borg Cardona have been reappointed company directors.

The other equities which traded during the week appear below, followed by the range in which trading took place: 10,871 Lombard Bank shares between Lm5.10 and Lm4.85; 5,000 Middlesea Insurance shares between Lm3.30 and Lm3.28; 10,286 Simonds Farsons Cisk shares between Lm1.10 and Lm1.05; 56,481 International Hotel Investment shares between €0.799 and €0.751; 1,500 Plaza Centres shares at 6c5; 117,750 FIM Bank shares between US$1.21 and US$1.195; 36,150 Malta International Airport shares between Lm1.16c5 and Lm1.10 and 72,026 Datatrak plc shares between 19c9 and 19c8.

Total Malta Government Stock turnover amounted to a nominal value of Lm754,700 being traded in 56 deals over 19 different stocks for a total market value amounting to Lm792,027.

Meanwhile, trading over the week in corporate bonds was made up of a total value of Lm151,054, bringing the total market value transacted in bonds during the week to Lm943,081.

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