Financial News
6pm Holdings listed on MSE
Following the long holiday weekend, trading resumed yesterday at the Malta Stock Exchange with investors predominantly in selling mode with equity and bond prices closing the day in negative territory. As a result, the MSE Index shed 0.18 per cent to close at 4,868 points.
Bank of Valletta seemed to be the focal point of most activity, with the equity picking up the day's title of the most liquid and actively traded equity. A grand total of 13,450 shares, carrying a market consideration of Lm48,559, were swapped across 18 transactions with the equity immediately opening in negative territory and losing up to 1c6 or 0.4 per cent towards the close, to end at Lm3.60,3.
Trading activity in HSBC Bank Malta, the largest company by market capitalisation, consisted of 6,605 shares which were swapped across 11 transactions. All deals were executed at Lm1.91 which represents a 0c4 or 0.6 per cent decline to last Thursday's closing price. At the end of the session, 1,500 shares were best bid at Lm1.90,6 while supply for a further 1,950 shares remained unfilled on the offer side at Lm1.91.
Elsewhere in the market, Maltacom and Middlesea Insurance both terminated the session flat at Lm1.40 and Lm1.65 respectively on low volume trades.
On the Alternative Company's List, a single deal in Datatrak Holdings saw two investors swap 1,000 shares at a new record low of 16c9. This equates to a 0c1 or 0.2 per cent decline from its last traded price.
During the day, the Exchange gave notice that 7.5 million ordinary shares of 6pm Holdings plc had been admitted to the official list and that trading in the equity is expected to commence during today's session.
Global stocks advance
Stocks in Europe and Asia rose, led by mining companies as metal prices rallied, US index futures advanced. BHP Billiton Ltd and Rio Tinto Group climbed after copper, gold and silver prices increased. Jiangxi Copper Co., China's second-biggest producer of the metal, paced gains in Asia. European car manufacturers advanced, and Motorola Inc., the largest US-based mobile phone maker, rose in German trading after RBC Capital Markets lifted its recommendation on the stock.
Gold rose, nearing a 28-year high, on demand from investors who expect the dollar to keep weakening against other major currencies. Silver also gained and copper climbed in London.
National benchmarks climbed in 12 of the 18 western European markets. The UK's FTSE 100 added 0.6 per cent. Germany's DAX slipped less than 0.1 per cent. France's CAC 40 gained 0.2 per cent.
BHP was the biggest gainer on the FTSE 100 on speculation it would announce a large gold discovery at its Olympic Dam mine in South Australia.
US stock-index futures gained on speculation a spillover of the housing slump to the broader economy may be contained. Ford Motor Co. climbed in Europe after the world's third-largest automaker opened another plant in China due to rising demand.
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.