Financial news

Trading activity for the last session of the week at the Malta Stock Exchange resulted in a positive outcome as the Index gained slightly more than 1 per cent to terminate at the 2,829 level. Investors in the equity market swapped an aggregate 42 deals over 6 active listings.

HSBC Bank Malta was the day's most liquid and actively traded component, when investors struck 32,500 shares over an aggregate 19 deals for a market consideration of €76,998. The Bank was also the best performer in the banking sector during the session as the equity rose by 5c2 which equates to a 2 per cent increase and a closing price of €2.40.

Meanwhile, Bank of Valletta shares retraced by 1.64 per cent to close the session at €2.40. After the closing bell, the banking Group issued its financial results for the first six months of the financial year, where an operating profit of €10.1 million was reported. The Bank also declared a gross interim dividend of €0.035 per ordinary share.

Lombard Bank Malta was the sole equity that registered no shift in price and closed unchanged at €2.65.

International Hotel Investments was the best performer on the day, as the equity rose by 3c or 3.90 per cent to close at €0.80, signalling a new high for the year. Activity for the listing was spread over 3 deals and a value of €15,468.

GO was also a gainer during the session albeit increasing by a negligible one tenth of a cent to terminate the day at €1.60. Investors for the quadruple play communications' company transacted a total of 14,000 shares over 9 deals.

Malta International Airport was also active for the day despite trading on low volume when two investors traded 600 shares. The airport operator was nevertheless the day's worst performer as the equity slipped by 5c or 2.33 per cent closing at €2.10.

International market report - weekly round-up

Most international equities rallied to surpass the highs of last week with European and US shares gaining on greater future expectation and consumer confidence amidst ongoing economic difficulties. This rally comes in the wake of widespread concern of a swine flu pandemic and uncertainty over next week's final US bank stress results.

Equities in the US were in a mood to celebrate on President Obama's first 100 days in office as all the major indices in the US registered healthy gains, with the S&P 500 gaining 3.57 per cent while the Dow Jones Industrials average rose by 3.79 per cent.

The technology index, Nasdaq, fared somewhat better as the recent bout of positive news flow surrounding the sector lingered on.

European markets benefited from the positive economic data issued over the past week, as both business and consumer sentiment turned slightly more optimistic. The FTSE 100 was amongst the best performers with a gain of nearly four per cent. Meanwhile, the Xetra Dax fared somewhat worse than its British counterpart, as unofficial amounts of accumulated losses from German banks were spread throughout the markets. Nonetheless the German main equity index still managed a respectable gain of 2.40 per cent. Another positive performance was posted by the French CAC 40 that climbed higher by 3.03 per cent.

Asian markets were the main laggards amongst global equity markets, with the Nikkei 225 shedding 0.21 per cent. The Hang Seng marched on at a relatively slower pace than previous week, but still managed to inch higher by 1.79 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.