Financial News
Low volumes on the Exchange
The MSE index closed modestly higher during yesterday's session at the Malta Stock Exchange. Trading activity was relatively low with minimal changes in Bank of Valletta, International Hotel Investments, Maltacom and Plaza Centre shares. As a result the index closed just 0.07 per cent at 5,071.007 points.
During today's trading session, HSBC Bank Malta plc attracted high value of business activity with 23,680 shares carrying a market capitalisation of Lm49,728 which were exchanged across 28 deals. The shares price remained unchanged to close the day at Lm2.10. At the end of the session 159 shares were best bid at Lm2.10 against supply of 1,000 shares offered at Lm2.11.
Bank of Valletta shares regained the Lm3.70 level as lack of demand characterised today's trading activity. In fact a mere 1,615 shares were exchanged during the session across nine transactions with the share price gaining a minimal 0c2.
Trading in International Hotel Investments shares continued on a positive note, as the share price moved a €0.01 further up, to close the session at €1.07. This positive sentiment is set to continue as at the end of the session there was unsatisfied demand of 4,500 shares at €1.08.
Trading activity in Maltacom shares remained around the Lm1.45 level with the share price gaining a minimal 0c1 to close the day Lm1.451. In all 4,326 shares changed hands across four transactions. Similarly Plaza Centre shares gained 0c5 to close the day at Lm0.705.
Elsewhere in the market trading activity in Middle Sea Insurance shares did not alter its previous closing price of Lm2.05.
Japanese markets wait for interest rate decision
European equity markets struggled to gain positive momentum by mid-morning yesterday as weakness in the aerospace and industrial sectors weighed on sentiment. The FTSE Eurofirst 300 edged up 1.3 points, or 0.1 per cent, to 1,513.29 while the German Xetra Dax was essentially flat, just 2.2 points higher, at 6,718.3 but the French CAC 40 fell 4.9 points, or 0.1, per cent, to 5,586.67.
Japanese shares ended mildly up on the day, following a sudden retreat from expectations of an interest rate rise this week. The Nikkei 225 ended 0.3 per cent higher at 17,261.35. The broader Topix rose 0.2 per cent to 1,706.76.
US stock-index futures were little changed before government reports that may show inflation is still enough of a threat to stop the Federal Reserve from cutting interest rates. Intel Corp. shares fell in Europe after the world's biggest semiconductor maker forecast its gross margin will narrow in 2007. Apple Inc., the maker of the iPod music player, rose before reporting earnings. Procter & Gamble Co., the largest US consumer-goods maker, gained after Goldman, Sachs & Co. raised its recommendation on the company's shares.