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maltatoday, WEDNESDAY, 7 MAY 2014 13 Business Today Money Market Report for the week ending May 2, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 06/05/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap t BOV 14973 33186.810 13 2.230 2.200 2.220 2.230 -0.011 2.216 s GCL 5075 3411.070 9 0.750 0.597 0.597 0.750 0.151 0.672 t GO 5000 9813.340 5 1.979 1.945 1.945 1.979 -0.020 1.963 t HSB 28385 60644.170 13 2.150 2.130 2.140 2.140 -0.002 2.136 l IHG 11500 9769.000 2 0.850 0.848 0.848 0.850 0.000 0.849 s MIA 2200 4993.000 2 2.270 2.265 2.265 2.270 0.010 2.270 s MTP 37836 41896.320 7 1.120 1.040 1.040 1.120 0.080 1.107 s RS2 3614 8780.670 3 2.430 2.429 2.429 2.430 0.010 2.430 t G14C 5659 5700.880 2 100.740 100.740 100.740 100.740 -0.030 100.740 s G21A 16306 19167.700 1 117.550 117.550 117.550 117.550 0.190 117.550 s G22B 6000 6752.400 1 112.540 112.540 112.540 112.540 0.140 112.540 s G24AA 107000 110028.100 5 102.830 102.830 102.830 102.830 0.150 102.830 t G28A 33700 37248.610 3 110.530 110.530 110.530 110.530 -0.050 110.530 t G28B 508600 545420.640 10 107.240 107.230 107.240 107.230 -0.050 107.240 s G29A 101900 116460.660 3 114.300 114.140 114.140 114.300 0.330 114.290 t G30A 26500 30533.300 3 115.220 115.220 115.220 115.220 -0.070 115.220 t G31A 27000 30685.500 1 113.650 113.650 113.650 113.650 -0.060 113.650 t G32A 249900 264531.300 8 105.900 105.800 105.860 105.800 -0.110 105.850 t G32BA 2058100 2122978.300 26 103.220 103.130 103.220 103.150 -0.120 103.150 t AX24A 34800 36088.720 3 103.900 103.560 103.900 103.560 -0.040 103.700 s BV18A 10000 10501.000 2 105.010 105.010 105.010 105.010 0.010 105.010 l BV19B 3000 3077.100 1 102.570 102.570 102.570 102.570 0.000 102.570 s EF20A 2300 2358.420 1 102.540 102.540 102.540 102.540 0.030 102.540 l IH19A 2200 2266.000 1 103.000 103.000 103.000 103.000 0.000 103.000 l SF20A 1500 1580.250 2 105.350 105.350 105.350 105.350 0.000 105.350 ECB Monetary Operations On Monday, April 28, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, April 29, and attracted bids from euro area eligible counterparties of €172.62 billion, €50.81 billion higher 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, April 29, the ECB conducted an auction for a seven-day fixed-term deposit intended to absorb €172.50 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, April 25. 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 €103.95 billion, with the ECB allotting the full amount. The marginal rate on the auction was set at 0.25%, with the weighted average rate at 0.24%. On Wednesday, April 30, the ECB conducted a three-month longer-term refinancing operation to be settled as a fixed rate tender procedure with full allotment, with the rate fixed at the average rate of the MROs over the life of the operation. The auction attracted bids of €13.19 billion from euro area eligible counterparties, which amount was allotted in full in accordance with current ECB policy. Also on Wednesday, April 30, the ECB conducted a six-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 0.59% and once again 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 August 1 and October 31, 2014, respectively. Bids of €28.60 million were submitted for the 91- day bills, with the Treasury accepting €13.00 million, while bids of €47.42 million were submitted for the 182- day bills, with the Treasury accepting €13.50 million. Since €35.00 million worth of bills matured during the week, the outstanding balance of Treasury bills decreased by €8.50 million, to stand at €362.95 million. The yield from the 91-day bill auction was 0.375%, i.e. 0.50 basis point higher than on bills with a similar tenor issued on April 25, 2014, representing a bid price of 99.9053 per 100 nominal. The yield from the 182- day bill auction was 0.649%, i.e. 0.70 basis point lower than on bills with a similar tenor issued on April 25, 2014, representing a bid price of 99.6730 per 100 nominal. During the week under review, there was no trading on the Malta Stock Exchange. On Tuesday the Treasury invited tenders for 28-day and 182-day bills maturing on June 6 and November 7, 2014, respectively.

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