Financial news

Trading activity for the first day of the week on the Malta Stock Exchange saw a further increase to the index which rose by 0.6 per cent for a closing value of 3,180.2 points.

Bank of Valletta heralded the week on a positive note as the equity rose by 4c or 1.2 per cent to close at €3.40. The bank was also the most actively traded equity as investors swapped 4,146 shares across eight deals.

HSBC Bank Malta was also on the list of gainers as the equity's share price increased by 3c which equates to a 1.1 per cent gain to close at €2.77. The bank was also the most liquid equity as 15,360 shares were transacted over seven deals.

In the banking sector, Lombard Bank Malta was the only non-mover as the equity closed unchanged at €2.50. Turnover in the banking equity consisted of 1,700 shares exchanged over four deals.

Likewise, activity in Malta International Airport and Island Hotels Group Holdings resulted in no movement to their share price as they closed unchanged at €2.25 and €1 respectively.

Go was also static for the day as the equity closed unaltered at €1.55.

The only negative performance during the session was registered in San Tumas Shareholdings as the equity dropped by 4c or 1.3 per cent to terminate at €3.

Volume in the company consisted of 2,625 shares spread across a single deal.

The week ahead - Economic indicators for week starting October 12

For the week ahead, all major economies under review will publish their Consumer Price Inflation.

In the United States, starting on Wednesday, retail sales are expected to decline to a negative 2.1 per cent for the month of September from their prior monthly reading of 2.7 per cent. On the same day, the minutes of the September 23, Federal Open Markets Committee meeting will be published, providing an insight on the current risks to the growth and inflation outlook. Consumer inflation on Thursday is expected to drop to 0.2 per cent in September from its 0.4 per cent in August. During the week, there will also be two important regional indicators, the Empire State Manufacturing Survey and the Philadelphia Fed Business Survey. Industrial production is also expected to decline for September to 0.1 per cent from its previous 0.8 per cent.

In the eurozone, the German ZEW Survey on economic sentiment will greet the week on a positive note as this indicator is expected to register further gains during this month. Meanwhile, industrial production is also expected to increase to 1.2 per cent for August from its negative 0.3 per cent in July. Consumer Price Inflation is expected to drop to 0.1 per cent for September from August's 0.3 per cent.

In the United Kingdom, the week's focus will be the unemployment rate during the past three months ending August, where the rate of job losses is anticipated to rise up to eight per cent from the prior 7.9 per cent. Other noteworthy data will include Consumer Price Inflation which is predicted to edge down slightly for September to 0.3 per cent from its previous 0.4 per cent. The fall in inflation in the UK has been less marked than elsewhere, thanks to a weaker sterling which made imports more expensive.

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.