Issue link: https://maltatoday.uberflip.com/i/315336
maltatoday, WEDNESDAY, 21 MAY 2014 15 Business Today Money Market Report for the week ending May 16, 2014 The rates quoted above are against the EURO. YOUR FIRST CLICK OF THE DAY www.maltatoday.com.mt Regular market closed – 20/05/2014 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change Twap t BOV 58992 124845.690 22 2.145 2.110 2.144 2.110 -0.020 2.116 t FIM 22197 17266.470 4 0.780 0.770 0.780 0.770 -0.010 0.778 l GO 9640 18329.900 5 1.950 1.900 1.900 1.950 0.000 1.901 t HSB 9000 18873.000 6 2.109 2.091 2.109 2.091 -0.019 2.097 s LOM 2248 3394.480 1 1.510 1.510 1.510 1.510 0.020 1.510 l MIA 1000 2250.000 1 2.250 2.250 2.250 2.250 0.000 2.250 l MSI 86 77.400 1 0.900 0.900 0.900 0.900 0.000 0.900 l RS2 5576 13382.400 2 2.400 2.400 2.400 2.400 0.000 2.400 s G14C 35755 35928.840 3 100.570 100.450 100.450 100.570 0.010 100.490 t G15B 4076 4362.540 1 107.030 107.030 107.030 107.030 -0.050 107.030 t G16A 25625 28369.440 2 110.710 110.710 110.710 110.710 -0.030 110.710 t G17C 30000 33141.000 2 110.470 110.470 110.470 110.470 -0.080 110.470 t G18A 5824 7325.430 1 125.780 125.780 125.780 125.780 -0.100 125.780 s G19A 4950 6150.380 1 124.250 124.250 124.250 124.250 0.100 124.250 s G19C 27000 28676.700 2 106.210 106.210 106.210 106.210 0.270 106.210 t G21A 55866 65793.390 4 117.770 117.770 117.770 117.770 -0.160 117.770 t G22A 4950 5867.730 1 118.540 118.540 118.540 118.540 -0.170 118.540 t G22B 124000 139745.400 6 112.710 112.680 112.710 112.680 -0.190 112.700 t G24A 200000 206060.000 11 103.030 103.030 103.030 103.030 -0.260 103.030 t G28A 19800 22005.720 2 111.140 111.140 111.140 111.140 -0.270 111.140 t G28B 260100 279867.600 10 107.600 107.600 107.600 107.600 -0.280 107.600 s G30A 115800 133756.000 10 115.600 115.500 115.500 115.600 0.600 115.510 t G32A 234000 248633.500 6 106.280 106.200 106.280 106.230 -0.170 106.250 t G32BA 106000 109763.000 6 103.550 103.550 103.550 103.550 -0.250 103.550 t AX24A 35700 36765.260 2 103.000 102.980 103.000 102.980 -0.030 102.980 t BV19B 10000 10256.700 2 102.570 102.560 102.570 102.560 -0.010 102.570 l BV20A 5000 5150.000 1 103.000 103.000 103.000 103.000 0.000 103.000 l MS23A 1400 1445.500 1 103.250 103.250 103.250 103.250 0.000 103.250 l PC20A 11000 11708.000 2 106.500 106.300 106.300 106.500 0.000 106.440 t PS17A 3000 3060.000 1 102.000 102.000 102.000 102.000 -0.550 102.000 t TI20A 12000 12696.000 2 105.800 105.800 105.800 105.800 0.040 105.800 On Monday, May 12, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted on Tuesday, May 13, and attracted bids from euro area eligible coun- terparties of €137.30 billion, €8.16 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, May 13, the ECB conducted a special term refinancing operation with a maturity of 28 days. This attracted bids of €32.33 billion, which was allotted in full at a fixed rate equivalent to the prevailing MRO rate of 0.25%, also in accordance with current ECB policy. Furthermore on Tuesday, May 13, the ECB conducted an auction for a seven-day fixed-term deposit intended to absorb €167.50 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, May 9. 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 €144.28 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, May 14, 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 0.59% 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 28-day and 90-day bills maturing on June 13 and August 14, 2014, respectively. Bids of €15.00 million were submitted for the 28- day bills, with the Treasury accepting €3.00 million, while bids of €26.40 million were submitted for the 90- day bills, with the Treasury accepting €20.00 million. Since €7.00 million worth of bills matured during the week, the outstanding balance of Treasury bills increased by €16.00 million, to stand at €361.37 million. The yield from the 28-day bill auction was 0.285%, i.e. 1.50 basis points lower than on bills with a similar tenor issued on May 9, 2014, representing a bid price of 99.9778 per 100 nominal. The yield from the 90- day bill auction was 0.380%, i.e. 0.50 basis point higher than on bills with a similar tenor issued on May 2, 2014, representing a bid price of 99.9051 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 August 22 and November 21, 2014, respectively.