Financial news
Major equities close flat
The Malta Stock Exchange index ended marginally higher yesterday by a mere 0.1 per cent but was enough to register its best ever close, at 5,296 points. Gains were mainly concentrated in mid-cap equities as the largest listed shares remained practically flat.
Lombard Bank was the day's top performer with the share price recovering a further 2.9 per cent or 24c9, to end the session at Lm8.74,9. The equity remained highly illiquid, forcing investors wishing to buy the share to step up their bids.
Shares of Malta International Airport also registered a significant comeback closing at Lm1.58 for the first time since mid-November last year. The equity gained almost two per cent over a turnover of 49,445 shares and 27 deals.
Among the big caps shares of HSBC Bank Malta took a breather after registering 10 consecutive sessions of gains. Supply returned to the market in relatively big amounts matching all the day's bids up to the Lm8.77 level, where the equity terminated the session.
Farsons shares had a particularly negative session, with the equity losing 6.7 per cent, down to Lm0.84.
In the rest of the day's activity, Maltacom and Bank of Valletta shares remained practically flat at Lm1.95 and Lm3.95, respectively, while Middlesea Insurance gained 1.8 per cent, to close at Lm4.20.
Japan's CPI rises boost hope for policy exit
European bourses were sharply higher yesterday hitting 53-month highs after steelmakers were buoyed by Mittal Steel's €18.6 billion bid for Arcelor and the Nikkei in Tokyo soared 3.6 per cent.
The FTSE Eurofirst 300 rose 0.9 per cent to 1,316.10, a four-year high, with the Frankfurt Xetra Dax 1.2 per cent to 5,613.69 and the CAC-40 1.3 per cent ahead at 4,938.69, both at their highest levels since August 2001. The FTSE 100 was 1.1 per cent to the good at 5,785.0 after an explosion of merger and acquisitions activity and speculation.
Core consumer prices in Japan have risen for two straight months - for the first time in more than seven years. The news boosted expectations of an imminent end to the central bank's ultra-loose monetary policy, a preliminary step before it ends zero interest rates.
The index, which excludes the volatile price of fresh food, was up 0.1 per cent on the year in December.
The figures suggest inflation is beginning to take root in the world's second largest economy after eight years of deflation.
Yesterday a positive start on Wall Street saw the Dow Jones Industrial Average up 0.1 per cent to 10,817.24 and the Nasdaq composite index up 0.4 pre cent to 2,292.17 shortly after opening.
Earnings from a host of leading companies drove a strong performance on Thursday.