Maltacom up by 7% - July 17, 2004

Trading in Maltacom opened the week at Lm1.26, went down to Lm1.251 on Tuesday, but later went up to close at Lm1.35 at the end of yesterday's session, an overall increase of 9c. Over the week's trading Maltacom shares made an overall increase of 9c (7.143 per cent). Twenty-four deals were struck in Maltacom shares this week, in which 54,116 shares changed hands. Following yesterday's session, best bids of 850 shares at Lm1.311 and best offers of 2,060 shares at Lm1.36 remained outstanding.

In a company announcement issued on Thursday, Bank of Valletta p.l.c. announced that with effect from July 15, 2004, Tonio Depasquale has been appointed Chief Executive Officer (CEO) of the Bank. As CEO, Mr Depasquale is responsible for the overall conduct of the operations of the bank and its management, the bank's executive conduct, its administration and organisation as well as the administrative conduct of all its officers and other employees.

In the meantime, Bank of Valletta had the highest turnover equity for the week with trading opening at Lm3.48 on Monday and going up to close yesterday's session at Lm3.50. Trading during the week ranged between Lm3.51 and Lm3.48. Total turnover amounted to 99,168 shares changing hands over 56 deals. The best unsatisfied bids and offers following yesterday's session were 37 shares at Lm3.30 and 3,460 shares at Lm3.50 respectively.

HSBC opened the week at Lm6.549 and went on to gain 2c1 during the week to close at Lm6.57 yesterday. Turnover amounting to 9,200 shares changed hands over seven deals. Following close of business yesterday 225 shares at Lm6.50 and 170 shares at Lm6.57 were the respective best unsatisfied bids and offers.

The other equities which traded during the week appear below, followed by the range in which trading took place; 3,591 Lombard Bank shares at Lm4.10; 776 Middlesea Insurance shares between Lm2.13 and Lm2.125; 3,126 Simonds Farsons Cisk shares between Lm1.15 and Lm1.149; 77,575 Intenational Hotel Investments shares between €0.79 and €0.76; 500 Plaza Centres shares at Lm0.699; 15,200 Malta International Airport shares between Lm0.835 and Lm0.83; 200 Global Financial Services shares at Lm1.05 (in put through market).

Total Malta Government Stock turnover amounted to a nominal value of Lm431,900 being traded in 52 deals over 18 different stocks. Trading over the week in Corporate Bonds was made up of a total value of Lm132,138.

The Malta Stock Exchange share index increased by 35.261 points or 1.381 per cent over the week and now stands at 2588.224.

Azzopardi Investment Management Limited, tel. 21 313100, fax. 21 318897, www.azzopardi.com