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maltatoday, WEDNESDAY, 12 MARCH 2014 13 BUSINESS & FINANCE Money Market Report for the week ending March 7, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 11/03/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap t BOV 48967 113763.950 17 2.330 2.320 2.330 2.320 -0.010 2.323 l CW 5000 4050.000 1 0.810 0.810 0.810 0.810 0.000 0.810 t GO 35101 71704.740 7 2.058 2.040 2.040 2.058 -0.036 2.043 l HSB 45267 110451.480 10 2.440 2.440 2.440 2.440 0.000 2.440 t IHG 6000 4800.000 1 0.800 0.800 0.800 0.800 -0.100 0.800 l MIA 1000 2200.000 2 2.200 2.200 2.200 2.200 0.000 2.200 l MLT 30000 16260.000 5 0.542 0.542 0.542 0.542 0.000 0.542 t MTP 5641 6205.100 3 1.100 1.100 1.100 1.100 -0.020 1.100 s RS2 22800 54024.830 8 2.390 2.360 2.360 2.390 0.010 2.370 l SFC 385 1139.600 1 2.960 2.960 2.960 2.960 0.000 2.960 t G14C 47600 48275.920 4 101.420 101.420 101.420 101.420 -0.010 101.420 t G15A 6057 6452.520 1 106.530 106.530 106.530 106.530 -0.220 106.530 s G15B 96273 103907.450 3 107.930 107.930 107.930 107.930 0.020 107.930 s G16A 41929 46784.380 1 111.580 111.580 111.580 111.580 0.020 111.580 s G16B 30282 33279.920 1 109.900 109.900 109.900 109.900 0.040 109.900 l G17C 19000 20928.500 2 110.150 110.150 110.150 110.150 0.000 110.150 s G20A 699 816.290 1 116.780 116.780 116.780 116.780 -0.210 116.780 s G20B 6000 6796.800 2 113.280 113.280 113.280 113.280 0.040 113.280 s G21A 32722 37905.170 4 115.840 115.840 115.840 115.840 0.050 115.840 s G22A 8154 9487.990 2 116.360 116.360 116.360 116.360 0.190 116.360 s G22B 67000 74061.800 2 110.540 110.540 110.540 110.540 0.320 110.540 s G28A 8000 8624.800 2 107.810 107.810 107.810 107.810 0.190 107.810 t G29A 22000 24369.400 3 110.770 110.770 110.770 110.770 0.060 110.770 t G30A 27000 30304.800 1 112.240 112.240 112.240 112.240 -0.170 112.240 t G31A 14000 15559.600 2 111.140 111.140 111.140 111.140 -0.500 111.140 l G32A 7000 7274.400 1 103.920 103.920 103.920 103.920 0.000 103.920 l CF19A 3500 3605.000 1 103.000 103.000 103.000 103.000 0.000 103.000 l GC16A 10500 8925.000 3 85.000 85.000 85.000 85.000 0.000 85.000 s GF21A 55000 55825.000 1 101.500 101.500 101.500 101.500 0.500 101.500 l IG19A 3000 3099.300 1 103.310 103.310 103.310 103.310 0.000 103.310 l IH19A 25000 25750.000 2 103.000 103.000 103.000 103.000 0.000 103.000 t MB19A 10000 10329.000 2 103.500 103.150 103.500 103.150 -0.360 103.290 l MO19A 3300 3498.000 1 106.000 106.000 106.000 106.000 0.000 106.000 s PS17A 466 477.840 1 102.540 102.540 102.540 102.540 0.040 102.540 ECB decisions On Thursday, March 6, the Governing Council of the European Central Bank (ECB) decided to keep the interest rate on the main refinancing operations (MRO) unchanged at 0.25%. Interest rates on the marginal lending facility and on the deposit facility were also left unchanged at 0.75% and 0.00%, respectively. ECB Monetary Operations On Monday, March 3, the ECB announced its weekly MRO. The auction was conducted on Tuesday, March 4, and attracted bids from euro area eligible counterparties of €87.05 billion, €6.99 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, March 4, 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 28. 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 €219.13 billion, with the ECB allotting €175.50 billion, or 80.09% of the total bid amount. The marginal rate on the auction was set at 0.23%, with the weighted average rate at 0.22%. On Wednesday, March 5, 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 bills maturing on June 6, 2014. Bids of €33.10 million were submitted for these bills, with the Treasury accepting €13.50 million. Since €27.67 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €14.17 million, to stand at €349.50 million. The yield from the 91-day bill auction was 0.390%, i.e. 3.00 basis points higher than on bills with a similar tenor issued on February 28, 2014, representing a bid price of 99.9015 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 bills maturing on June 13, 2014.

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