The MSE index closed modestly higher during a rather quiet session at the Malta Stock Exchange as minor declines in Bank of Valletta and Maltacom shares were offset by gains in HSBC Bank Malta shares. Overall volumes amounted to an aggregate of just 18,643 shares which were transacted across four different equities. As a result, the index closed a mere 0.29 per cent higher at 5,085.825 points.
HSBC Bank Malta was the day's only gainer with the share price advancing by 2c5 or 1.19 per cent to close the day at Lm2.125. Trading activity was relatively low with only 4,605 shares being exchanged across eight transactions, with investors leaving it to the last five minutes to execute their trades.
On the other hand, Maltacom shares registered the highest drop for the day, losing 2c6 or 1.79 per cent to close the day at Lm1.425. Here again activity was relatively low with just 3,800 shares changing hands across three transactions. At the end of the session 2,200 shares remained unsatisfied on the bid side at Lm1.42 against supply of 500 shares offered at Lm1.45.
Bank of Valletta shares lost 0c2 from the previous closing price to end the day at Lm3.698. Activity was modest, with barely 340 shares changing hands over two transactions at the early stages of the trading session. At the end of the session 266 shares were best bid at Lm3.671 against supply of 395 shares offered at today's closing price.
Elsewhere in the market, Simonds Farsons Cisk was the day's most actively traded equity with 9,898 shares being exchanged across three transactions. However, this activity did not have any effect on the share price which remained unchanged at 80c.
European stocks advance after commodities rebound
European equities moved higher by lunchtime yesterday, helped by strength in the oil, financials, travel and media sectors, on a busy day for corporate earnings releases. The FTSE Eurofirst 300 rose 4.6 points, or 0.3 per cent, at 1,514.98 while the German Xetra Dax added 20.2 points, or 0.3 per cent, at 6,721.8 and the French CAC 40 gained 30.2 points or 0.5 per cent at 5,592.02.
In London the FTSE moved higher as mining stocks tracked commodities prices higher. By late morning, the FTSE 100 was up 0.4 per cent, while the mid-cap FTSE rose 0.3 per cent.
In Japan the Nikkei 225 inched up further to a nine-month closing high after the Bank of Japan decided to keep interest rates unchanged for another month. Mitsui Fudosan, Japan's biggest property company, rose 1.4 per cent.
The Nikkei gained 0.6 per cent. The broader Topix rose 0.5 per cent. In response to the BoJ's decision, the real estate sector gained 1.4 per cent.
US stock-index futures were little changed on concern a pick-up in consumer prices may dissuade the Federal Reserve from cutting interest rates soon.
The December inflation report was offset by a drop in initial jobless claims and an unexpected increase in housing starts.