MaltaToday previous editions

maltatoday, WEDNESDAY, 19 FEBRUARY 2014 13 BUSINESS & FINANCE ECB Monetary Operations On Monday, February 10, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, February 11, and attracted bids from euro area eligible counterparties of €93.28 billion, €1.86 billion lower than the bid amount of the previous week. The amount was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.25%, in accordance with current ECB policy. Also on Tuesday, February 11, the ECB conducted a special-term refinancing operation with a maturity of 28 days. This attracted bids of €6.48 billion, which was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.25%, also in accordance with the current ECB policy. Furthermore on Tuesday, February 11, the ECB conducted an auction for a seven-day fixed-term deposit intended to absorb €175.5 billion. This operation was designed to sterilise the effect of purchases made under the Securities Markets Programme that were settled but had not yet matured by the previous Friday, February 7. The auction was carried out at a variable rate, with euro area eligible counterparties allowed to place up to four bids at a maximum rate of 0.25%. It attracted bids amounting to €195.92 billion, with the ECB allotting €175.5 billion, or 89.58% of the total bid amount. The marginal rate on the auction was set at 0.25%, with the weighted average rate at 0.23%. On Wednesday, February 12, the ECB conducted a seven-day US dollar funding operation through collateralised lending in conjunction with the US Federal Reserve. This operation was carried out at a fixed rate of 0.58% and did not attract bids from euro area eligible counterparties. Domestic Treasury Bill Market In the domestic primary market for Treasury bills, the Treasury invited tenders for 91-day and 181-day bills maturing on May 16 and August 14, 2014, respectively. Bids of €19.0 million were submitted for the 91- day bills, with the Treasury accepting €7.0 million, while bids of €25.5 million were submitted for the 181- day bills, with the Treasury accepting €13.5 million. Since no bills matured during the week, the outstanding balance of Treasury bills increased by €20.5 million, to stand at €351.17 million. The yield from the 91-day bill auction was 0.365%, i.e. 0.3 basis point higher than on bills with a similar tenor issued on February 7, 2014, representing a bid price of 99.9078 per 100 nominal. The yield from the 181-day bill auction was 0.642%, i.e. 0.6 basis point higher than on bills with a similar tenor issued on February 7, 2014, representing a bid price of 99.6783 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 91-day and 182-day bills maturing on May 23 and August 22, 2014, respectively. Money Market Report for the week ending February 14, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 18/02/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap s BOV 11768 29304.410 10 2.495 2.465 2.495 2.480 -0.005 2.490 l GO 17485 36595.620 6 2.100 2.080 2.090 2.100 0.000 2.093 l IHI 5000 4400.000 2 0.880 0.880 0.880 0.880 0.000 0.880 l MIA 5000 11000.000 2 2.200 2.200 2.200 2.200 0.000 2.200 t MLT 10000 5492.500 3 0.550 0.545 0.550 0.545 -0.005 0.549 t RS2 12730 29675.140 5 2.340 2.330 2.340 2.340 -0.024 2.331 t G14B 8154 8500.550 3 104.250 104.250 104.250 104.250 -0.020 104.250 t G14C 8230 8368.260 1 101.680 101.680 101.680 101.680 -0.020 101.680 l G15A 18153 19411.000 3 106.930 106.930 106.930 106.930 0.000 106.930 s G15B 30983 33566.980 4 108.340 108.340 108.340 108.340 0.010 108.340 l G16A 7455 8350.340 2 112.010 112.010 112.010 112.010 0.000 112.010 s G16B 4659 5132.350 1 110.160 110.160 110.160 110.160 0.010 110.160 s G17C 51000 56166.300 3 110.130 110.130 110.130 110.130 0.050 110.130 s G18A 5824 7314.360 1 125.590 125.590 125.590 125.590 0.060 125.590 s G20A 34941 40758.670 2 116.650 116.650 116.650 116.650 0.090 116.650 s G20B 1858000 2107155.700 8 113.410 113.400 113.400 113.410 0.090 113.410 s G21A 52757 60874.900 5 115.390 115.330 115.330 115.390 0.090 115.390 s G22A 25278 29330.070 3 116.030 116.030 116.030 116.030 0.060 116.030 s G22B 134300 147448.470 11 109.800 109.790 109.800 109.790 0.010 109.790 s G23A 27953 33756.040 1 120.760 120.760 120.760 120.760 0.120 120.760 s G28A 95000 101745.000 4 107.100 107.100 107.100 107.100 0.030 107.100 l G28B 462400 479024.600 18 103.600 103.580 103.600 103.580 0.000 103.600 l G30A 143200 161114.320 7 112.510 112.510 112.510 112.510 0.000 112.510 s G31A 138000 154515.200 7 111.980 111.900 111.900 111.980 0.100 111.970 s G32A 170000 175204.000 7 103.080 103.000 103.000 103.080 0.130 103.060 t BV19A 3500 3605.000 1 103.000 103.000 103.000 103.000 -1.500 103.000 l BV20A 5000 5175.000 1 103.500 103.500 103.500 103.500 0.000 103.500 l MC16A 2000 2035.000 1 101.750 101.750 101.750 101.750 0.000 101.750 l MD18A 15000 15889.000 3 106.000 105.900 105.900 106.000 0.000 105.930

• Cover