Financial News
Record high for Lombard Bank
Trading in banking sector equities remained the preferred choice for local investors during yesterday's session at the Malta Stock Exchange, although four other companies saw activity being struck in their own shares too.
Lombard Bank was the day's top gainer as fresh demand came to the market and scooped out all supply on the offer side. A total of 3,120 shares were transacted in rapid succession across four trades, pushing the price higher by 15c or 2.3 per cent, to close the week at a new record high of Lm6.65c.
Activity in Bank of Valletta consisted of 3,360 shares, having a market consideration of Lm18,428, being traded in a very tight trade range and closed 0c3 higher, at Lm5.48c8.
Following Thursday's strong gain, some HSBC Bank Malta investors decided to cash in their profits by selling out their holdings. As a result the price declined by 3c to close at the Lm6.37c level.
Maltacom shares performed to the opposite. Following the previous session's decline, investors saw value at current levels and purchased a total of 8,000 shares. The equity rallied by up to 5c although the final trade of the day, saw the price settle at the Lm1.45c level.
On the Alternative Investments List, a single trade for mere 100 shares saw Datatrak Holdings increase by 5.6 per cent, to close the week at Lm0.28c.
Bourses gain after Wall Street bounce
About an hour and a half before the market opened, the Dow Jones Industrial Average futures were trading two points higher at 10,453, while contracts on the S&P 500 index were 0.9 points higher at 1,220.70, or 2.03 points above fair value, which accounts for interest rates, dividends, and the time left till the expiration of the contract. The Nasdaq 100 index contracts were 0.5 points up at 1,577.50, or 1.27 points below fair value.
European stocks were higher yesterday after investors on Wall Street welcomed with relief Hurricane Rita's downgrade to category four and the resultant easing of crude oil prices. By midday, the FTSE Eurofirst 300 was up 0.3 per cent to 1,205.49, while Frankfurt's Xetra Dax was up 0.5 per cent to 4,873.61. In Paris, the CAC 40 was 0.4 per cent higher at 4,463.68.
London shares edged higher yesterday, buoyed by a strong showing from the telecoms sector and some good cheer from one of the UK's biggest pub chains. The FTSE 100 was up 0.2 per cent at 5,395.5 while the mid-cap FTSE 250 also put on 0.2 per cent to stand at 7,854.8.
The Japanese market was closed yesterday for a national holiday.