Financial news

A relatively active session on the Malta Stock Exchange did not alter significantly the Index's performance as it closed marginally higher at 4,667 points.

Following Wednesday's close, Go published their full year results, which showed a two per cent increase in revenues, reported at €131.8 million, while its pre-tax profits dropped 1.4 per cent to €27.7 million. The company maintained its net final dividend payment at €0.1165. Results failed to ignite any particular interest in the equity as 5,100 shares were transacted across six transactions, with all trades being executed without altering its previous closing price of €3.12.

Trading activity in Datatrak Holdings saw the price climb 5.2 per cent over its previous trading level, thereby establishing this year's high at €0.305. This increase was achieved over a single trade for 2,424 shares after the equity had failed to trade since February 5.

Middlesea Insurance saw the second highest percentage gain with an increase of 8c or 2.3 per cent on once again low volume trading activity. The equity opened lower during mid-session with two investors swapping shares, while the other transaction was struck towards the end of trading at the closing price of €3.60.

Buying interest in Malta International Airport affected the price positively with a rise of 1c or 0.3 per cent over 3,500 shares to close at €3.22. A high volume of 57,873 shares in International Hotel Investments was traded across five deals, leaving the price unchanged at €1.001.

Meanwhile, trades in HSBC Bank Malta and Maltapost failed to steer any moves as both equities closed unaltered at €4.45 and €0.69 respectively.

Bank of Valletta registered a negative close, losing 1c4 or 0.2 per cent to end the session at €5.835. A total of 2,613 shares changed ownership across three deals, while FIMBank and Plaza Centres dropped by the slightest of margins to terminate at $1.999 and €1.699 respectively.

International market report - weekly round-up

World indices had a general positive outlook, with all global indices jumping onto a positive trend.

The American continent has put in a surprisingly positive performance given the grim nature of various US economic data. The positive signs contributed by the S&P reaffirming the top notch ratings of MBIA and Ambac brought a sigh of relief leading stocks higher. The three major indices in the United States all closed in positive territory with the Dow Jones Industrial index edging higher by 2.15 per cent.

Within the European continent, the market saw a string of positive news driving equity markets higher. The unexpected second time rise in the German ifo business confidence index powered by improvement on the retailers confidence, led to a positive rise on the German's Xetra Dax index. The increase in the composite purchasing manager index to 52.7 per cent for this month indicates a sign of progress in the service sector. The FTSE 100 was among the best performing indices with banking stocks leading the way, after news that sovereign wealth funds may be increased in some British banks.

Japanese stocks fared higher with the Nikkei climbing by 1.72 per cent after market sentiment strengthened, subsequent to additional investment by as much as $10 billion in Japanese stocks by China's sovereign wealth fund. The Hang Seng Index also climbed higher by 3.27 per cent.

This article has been prepared by Bank of Valletta p.l.c. (the Bank), which is licensed to conduct investment services business by the MFSA, for your general information only. This information is not a solicitation or offer by the Bank to acquire or sell securities. Nor does it constitute any form of advice by the Bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.