Financial news
Market back in positive territory
All equities trading during the mid-week session ended flat or marginally higher, resulting in a rise of 0.07 per cent in the MSE Index, to 4,795.713 points.
GlobalCapital shares were the day's top gainers as a total of 5,000 shares were exchanged across five deals. The share price ended the day up 3.3 per cent, at Lm1.86.
Among the big caps, shares of Bank of Valletta and Maltacom both eked up by 1c to settle at Lm3.58,1 and Lm1.40,1, respectively.
Trading in the largest listed bank by assets consisted of 5,160 shares which were exchanged across 12 deals. Comparatively higher volumes were registered in Maltacom shares, where a total of 31,610 shares shifted hands over 16 deals.
Meanwhile, shares in the largest constituent of the Index - HSBC Bank Malta - ended flat at the Lm1.88 level. Turnover in the equity amounted to 22,399 shares and 16 deals. In the rest of the equity market, Middlesea shares managed to end a six-day losing streak, settling at Lm1.70,1 on the day. A single deal was executed in the equity for a mere 28 shares. Other shares trading during the session included FIMBank and Medserv, with both ending unchanged at US$1.90 and Lm1.60, respectively.
European stocks advance
Yesterday, European shares snapped higher following a two-day losing streak thanks to gains for the financials sector. Allianz, the German financial services group, was the leading gainer on the Dax amid reports that it could sell its Dresdner banking division to rival Deutsche Bank. By late morning, the FTSE EuroFirst 300 index was up 0.6 per cent.
London equities progressed by midday, pushed by strong gains in the mining sector following a Goldman Sachs note on metals prices. The FTSE 100 rose 0.6 per cent. Strength in mid-cap investment companies helped the FTSE 250 rise 48 points.
Japan's Nikkei 225 stock average closed just short of a seven-year closing high. At the end of afternoon trading the Nikkei 225 was up 0.3 per cent after trading for much of the day above its February peak of 18,215.35. The broader Topix rose 0.2 per cent. The cautious recovery of Japanese shares has been boosted by foreign buying amid optimism over the country's economic recovery and the prospect that shareholder activism will create a more shareholder-friendly culture.
US stock-index futures advanced as Treasury yields declined for a fourth day, easing concern that companies and consumers will face higher borrowing costs.
The financial news was compiled by Valletta Fund Management (tel. 8007 2344) and Bank of Valletta plc (Tel 2131 2020). BOV and VFM are licensed by the MFSA to conduct investment services business.