Investors for fixed interest

Total Malta Government Stock turnover during the week amounted to a nominal value of Lm3,869,500, struck in 52 deals over 16 different stocks. Of these, Lm3,549,400 were traded in 15 deals between Lm104.25 and Lm103.00 in the 6.1 per cent MGS 2015 alone.

Total corporate bond value traded over the week reached Lm222,373.23. Trading over the week in Corporate Bonds was made up of the following:

Nine deals struck in the 6.15 per cent Bank of Valletta 2010, in which a nominal value of Lm18,500 changed hands between Lm102.90 and Lm103.10;

Two deals struck in the 6.5 per cent Corinthia Finance 2010 (EUR), in which a nominal value of e27,000 changed hands at e100.45;

Four deals struck in the 6.5 per cent Gasan Finance 2006/9, in which a nominal value of Lm5,500 changed hands at Lm100.00;

Five deals struck in the 7.25 per cent HSBC 2005, in which a nominal value of Lm8,700 changed hands between Lm105.00 and Lm105.65;

Two deals struck in the Malta Government Privatisation Bond, in which a nominal value of Lm4,300 changed hands between Lm100.00 and Lm100.25;

Five deals struck in the 6.7 per cent Mizzi Finance 2009/12, in which a nominal value of Lm168,500 changed hands between Lm101.05 and Lm102.80;

One deal struck in the 7.5 per cent Hotel San Antonio 2012, in which a nominal value of Lm1,000 changed hands at Lm92.00.

In a company announcement issued on Monday, HSBC Bank Malta plc stated that Mr Tom Robson will be relinquishing his post of chief executive officer on August 23. His successor's name will be published after the necessary board approval and regulatory consents have been obtained. Also, Mr Huw Morgan will be relinquishing his post of head of operations as from September 30. The name of his replacement will be published in due course.

In another company announcement, issued on Wednesday, the board of directors of HSBC have resolved that HSBC Overseas Bank (Malta) Limited and HSBC Investment Holdings (Malta) Limited be amalgamated with the bank. All regulatory approvals have been obtained by the bank and by the companies to be merged. The draft terms of merger, the instrument of amalgamation and the necessary resolutions were duly filed on Tuesday with the Registrar of Companies for registration. It is anticipated that the companies will be successfully merged with the bank in the third quarter of 2002.

Trading in HSBC Bank shares this week started on Wednesday, when two deals were struck at Lm3.90. This constituted a drop of 8c9 from the previous closing price. Two subsequent deals were passed in the following trading session at Lm3.901 and Lm3.90, the latter being the price at which trading in the equity closed. A total of 3,260 shares changed hands over the week. At the close of business yesterday, best bids for 750 shares at Lm3.85 stood against best offers of 1,000 shares at Lm3.95.

Bank of Valletta saw 15 deals being struck this week, in which 10,901 shares changed hands. For the most part, trading during the week took place at Lm2.80 (down by 10c from the previous closing price), except on Thursday, when the price went momentarily down to Lm2.799. The week therefore closed at Lm2.80 for the equity, signifying a nil change in the price over the week. Following yesterday's trading session, 1,000 shares at Lm2.70 were left as best bids, while best offers of 589 shares at Lm2.80 were still unsatisfied.

Maltacom was the only equity to trade on Monday, when three deals were struck between the opening price of Lm1.17 and the closing price of Lm1.165, 0c5 lower than the previous closing price. Tuesday saw the equity reverse the loss, when another three deals were struck. Trading opened at Lm1.165 and closed at Lm1.17. The relevant trading price reacted positively from then onwards, as gains of 1c were registered at the end of Wednesday's, Thursday's and yesterday's sessions, thus closing the week at Lm1.20. Best bids for 686 shares at Lm1.152 and best offers of 500 shares at Lm1.20 were still outstanding at the close of business.

The highest change in price this week was witnessed in International Hotel Investments shares, when on Tuesday trading opened at Lm0.89, went up to Lm0.92, before finally closing the day at Lm0.919, equal to an increase of 3.258 per cent during the week, and an increase of 5c8 on the previous closing price. Seven deals were struck in all, in which 10,700 shares changed hands. No further trading was registered during the week. 60 shares at Lm0.86 and 14,369 shares at Lm0.93 were the outstanding best bids and offers respectively at the end of yesterday's session.

The other equities which traded during the week are shown hereunder, followed by the price range in which trading was struck: 2,433 shares in Middlesea Insurance plc between Lm2.13 and Lm2.16; 25,000 shares in Plaza Centres plc between Lm0.719 and Lm0.74; 1,000 shares in Datatrak plc at Lm0.549; 150 shares in the six per cent Simonds Farsons Cisk plc Preference shares at Lm10.00. No trading was registered in Lombard Bank, Simonds Farsons Cisk Ordinary Shares, Suncrest Hotels, Globe Financial Management, and FIMBank.

The MSE Share Index dropped by 8.787 points over the week, equivalent to 0.4 per cent, and now stands at 1,982.36.