Index up 37 points

The Malta Stock Exchange share index increased by 37.523 points or 1.81 per cent over the week and now stands at 2,116.015.

HSBC shares opened Monday's session at Lm5.10, traded during the week between Lm5.06 and Lm5.15 before coming to a close yesterday at Lm5.11. The increase on the previous week's closing price was of 6c. Sixteen deals were struck over the week, over which 17,401 shares changed hands. Best bids for 300 shares at Lm5.12 and best offers of 550 shares at Lm5.15 remained outstanding at the close of trading.

Bank of Valletta shares opened the week's trading at Lm2.44 and went straight up to close yesterday's session at Lm2.651, up by 23c1 on the previous week's reading. During the week 71,053 shares changed hands over 54 deals. Following the close of business yesterday, best bids for 978 shares at Lm2.65 were outstanding, while best offers of 985 shares at Lm2.66 remained unsatisfied.

In a company announcement issued yesterday the Board of Directors of Bank of Valletta plc stated that it is scheduled to meet on October 31 to consider and approve the Group's and the Bank's Audited Financial Statements for the financial year ended September 30, recommend the proposed dividend and approve the Preliminary Profit Statement.

Maltacom shares opened the week on Monday at Lm1.08 and subsequently closed yesterday at Lm1.05, down by 3c5 on the previous closing price. Weekly turnover amounted to 8,339 shares being traded over nine deals. 400 shares at Lm1.045 and 3,640 shares at Lm1.05 were the best outstanding bids and offers when yesterday's session drew to a close.

Simonds Farsons Cisk has announced on Thursday that it has entered into a Preliminary Agreement with Mr Guido Vella for the acquisition of Guido Vella Cash & Carry Business. This transaction will involve the transfer of Mr Vella's business as a going concern, but will be managed as a separate entity to the other Group subsidiary companies.

Meanwhile, Simonds Farsons Cisk shares saw the week's trading close at Lm0.82, after 5,027 shares changed hands in six deals on Monday and Wednesday. At the close of business yesterday, 1,000 shares at Lm0.82 and 2,133 shares at Lm0.895 were the best outstanding bids and offers respectively.

In a company announcement issued on Tuesday by Lombard Bank Malta plc it was stated that the bank will forward an Extraordinary Resolution in the upcoming general meeting whereby a new class of shares is to be created. The current ordinary shares will be reclassified as 'A' shares, with the new shares being classified as 'B' ordinary shares. These latter will be offered for acquisition by employees and will be subject to restrictions.

The other equities which traded during the week appear below, followed by the range in which trading took place: 3,945 Malta International Airport shares at Lm0.63 and Lm0.631; 8,900 International Hotels Investments shares at Lm0.82; 5,000 Lombard Bank Malta plc shares at Lm3.69 and Lm3.71; 5,000 FIMBank plc shares at USD1.17; 14,241 GloBAl Financial Services Group plc shares at Lm1.12 and 14,042 Datatrak Holdings plc shares between Lm0.28 and Lm0.30.

Total Malta Government Stock turnover amounted to a nominal value of Lm312,000 being traded in 41 deals over 19 different stocks. Trading over the week in Corporate Bonds was made up of a total value of Lm66,672.