MaltaToday previous editions

maltatoday, WEDNESDAY, 26 FEBRUARY 2014 13 BUSINESS & FINANCE ECB Monetary Operations On Monday, February 17, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, February 18, and attracted bids from euro area eligible counterparties of €92.87 billion, €0.41 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 18, the ECB conducted an auction for a seven-day fixed-term deposit intended to absorb €175.50 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 14. 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 €216.07 billion, with the ECB allotting €175.50 billion, or 81.22% of the total bid amount. The marginal rate on the auction was set at 0.24%, with the weighted average rate at 0.23%. On Wednesday, February 19, 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 182-day bills maturing on May 23 and August 22, 2014, respectively. Bids of €17.00 million were submitted for the 91- day bills, with the Treasury accepting €6.00 million, while bids of €31.00 million were submitted for the 182- day bills, with the Treasury accepting €14.00 million. Since €7.00 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €13.00 million, to stand at €364.17 million. The yield from the 91-day bill auction was 0.397%, i.e. 3.20 basis points higher than on bills with a similar tenor issued on February 14, 2014, representing a bid price of 99.8997 per 100 nominal. The yield from the 182-day bill auction was 0.681%, i.e. 3.90 basis points higher than on bills with a similar tenor issued on February 14, 2014, representing a bid price of 99.6569 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 30 and August 29, 2014, respectively. Money Market Report for the week ending February 21, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 25/02/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap t BOV 31300 76441.350 22 2.460 2.400 2.460 2.400 -0.060 2.442 t FIM 5645 5069.210 1 0.898 0.898 0.898 0.898 -0.002 0.898 t GO 2400 5030.000 3 2.110 2.080 2.110 2.109 -0.001 2.096 s HSB 35054 86448.600 11 2.590 2.400 2.490 2.590 0.090 2.466 t LOM 300 540.000 1 1.800 1.800 1.800 1.800 -0.050 1.800 t MSI 2000 1850.000 2 0.950 0.900 0.950 0.900 -0.037 0.925 s PZC 2700 1620.000 1 0.600 0.600 0.600 0.600 0.030 0.600 s SFC 23000 68540.000 1 2.980 2.980 2.980 2.980 0.030 2.980 t G14B 4659 4851.420 1 104.130 104.130 104.130 104.130 -0.040 104.130 t G15A 5630 6010.030 2 106.750 106.750 106.750 106.750 -0.040 106.750 t G15B 1000 1081.400 1 108.140 108.140 108.140 108.140 -0.030 108.140 t G15F 3600 3786.120 1 105.170 105.170 105.170 105.170 -0.010 105.170 t G16B 10699 11777.460 2 110.080 110.080 110.080 110.080 -0.050 110.080 t G17C 13000 14313.000 2 110.100 110.100 110.100 110.100 -0.050 110.100 t G18A 4659 5848.910 1 125.540 125.540 125.540 125.540 -0.040 125.540 t G20B 5000 5659.000 1 113.180 113.180 113.180 113.180 -0.060 113.180 t G21A 21647 24997.960 2 115.480 115.480 115.480 115.480 -0.020 115.480 t G22B 373000 410150.800 7 109.960 109.960 109.960 109.960 -0.010 109.960 s G28A 28000 29979.600 3 107.070 107.070 107.070 107.070 0.070 107.070 s G28B 126000 130518.800 6 103.600 103.560 103.600 103.560 0.010 103.590 t G30A 18000 20232.000 1 112.400 112.400 112.400 112.400 -0.320 112.400 t G31A 58300 65377.620 4 112.140 112.140 112.140 112.140 -0.240 112.140 s G32A 26000 26858.000 1 103.300 103.300 103.300 103.300 0.070 103.300 s BV20A 6200 6417.620 1 103.510 103.510 103.510 103.510 0.010 103.510 t GF21A 2500 2547.500 1 101.900 101.900 101.900 101.900 -0.100 101.900 t HB17A 19500 20231.250 1 103.750 103.750 103.750 103.750 -0.500 103.750 l HB18A 4100 4428.000 1 108.000 108.000 108.000 108.000 0.000 108.000 l IH19A 4000 4120.000 1 103.000 103.000 103.000 103.000 0.000 103.000 s MS23A 13800 14490.000 4 105.000 105.000 105.000 105.000 0.750 105.000

• Cover