Index down

The Malta Stock Exchange share index decreased by 20.543 points or 1.06 per cent over the week and now stands at 1,916.81.

Nineteen deals were struck in Bank of Valletta shares during the past week, between Lm2.31 and Lm2.29. This latter is the price at which the last deal for the week was struck, down by 1c from the previous week. Turnover amounted to 44,149 shares being traded. Following the close of yesterday's trading session 4,705 shares at Lm2.29 and 18 shares at Lm2.30 were the best outstanding bids and offers.

HSBC shares closed the week at Lm4.36, down by 4c from the previous week's close, with trading taking place between Lm4.35 and Lm4.385. 3,100 shares changed hands during the week, over seven deals. After yesterday's session best bids for 1,500 shares at Lm 4.25 were outstanding while best offers of 1,000 shares at Lm4.359 remained unsatisfied.

Maltacom shares opened the week at Lm0.92 and went down to close at Lm0.89, down by 3.261 per cent. Twenty-seven deals were struck this week, over which 104,230 shares changed hands. As yesterday's session drew to a close, 600 shares at Lm0.89 and 2,000 shares at Lm0.90 were the best outstanding bids and offers respectively.

Middlesea Insurance shares were the only ones to register gains on the Malta Stock Exchange this week. Trading opened at Lm2.60 and went up to close at Lm2.62. In all 1,642 shares changed hands over eight deals. 4,000 shares at Lm2.40 and 4,851 shares at Lm2.62 were the remaining bids and offers respectively following yesterday's session.

In a company announcement issued on Wednesday, Malta International Airport plc announced the resignation of Mr Lawrence Zammit from the post of chairman of the company. Mr Kurt Waniek, deputy chairman of the company, will be taking over the role of chairman until the forthcoming annual general meeting. Mr Zammit has been appointed chairman of Air Malta Company Limited.

In a company announcement issued yesterday, the board of directors of Suncrest Hotels plc published the interim accounts for the six months ended April 30, 2003. These show a turnover figure of Lm637,000 (six months ended April 30, 2002: Lm797,000); loss for the year of Lm485,000 (six months ended April 30, 2002: loss of Lm372,000) and loss per share of 4c8 (six months ended April 30, 2002: loss per share of 3c7). No interim dividend was recommended by the directors.

The other equities which traded during the week appear below, followed by the range in which trading took place: 66,719 International Hotel Investments shares between Lm0.90 and Lm0.875; 214 Simonds Farsons Cisk shares at Lm0.75 and 1,585 Datatrak Holdings shares between Lm0.372 and Lm0.322.

Trading over the week in corporate bonds was made up of a total value of Lm418,173, of which Lm325,420 were passed through the put-through Market. Total Malta Government Stock turnover over the week amounted to a nominal value of Lm238,000 being traded in 29 deals over 13 different stocks.