Trading activity for yesterday's session on the Malta Stock Exchange ended for the second consecutive day in negative territory as the index dropped by 0.8 per cent to close at 3,741.38 points.
In the banking sector, the best performer was FIMBank as the equity registered an increase of 4c of a dollar or 3.5 per cent to close at $1.18. Activity in the trade finance specialist consisted of 26,440 shares swapped across seven deals.
Likewise, Bank of Valletta also terminated the session in positive territory as its share price gained 2c or 0.6 per cent to close at €3.30.
HSBC Bank Malta was on the list of losers as the equity dropped by 5c5 or 1.4 per cent to close at €3.79. Meanwhile, Lombard Bank Malta shares made a negligible decline of one tenth of a euro cent to close at €3.139 on very low volume of just 320 shares.
Outside of the banking sector, Middlesea Insurance and International Hotel Investments were the worst performers as the equities shed seven per cent and 3.5 per cent of share price to close at €0.786 and €0.772 respectively.
Maltapost shares ended the session on a positive note as the equity gained 2c or 2.8 per cent to close at €0.74.
Simonds Farsons Cisk and Malta International Airport registered a 1.2 per cent and 1.9 per cent gain in the share price to close at €1.72 and €2.65. Activity in both equities was spread on low volume. Meanwhile, Crimsonwing was a non-mover during the session as it closed unchanged at €0.40.
Plaza Centres and Go shares were also positive performers during the session as the equities both rose by 2c to close at the €1.65 and the €2.26 level respectively.
Weekly UK economic review
In the United Kingdom, the goods trade deficit with the rest of the world narrowed more than expected in November, after the country's deficit with non-EU countries fell to its lowest since late 2005. The Office for National Statistics said that Britain's global goods trade gap narrowed to £6.78 billion in November from £7.02 in October, after imports registered a 0.8 percent drop over the month while exports rose 0.1 per cent. Meanwhile, UK retail sales values rose 4.2 per cent in December, and 6 per cent when new store space was included, which according to the British Retail Consortium, Christmas sales were better-than-expected. In fact, this was the best total sales growth for a December since 2005.
UK producer prices jumped more than twice the amount forecasted by economists in December, which might be a sign that the economy's pick up is also fanning inflation. The cost of goods at factory gates rose 0.5 per cent from November, when the median forecast of 12 economists in a Bloomberg News survey was for a 0.2 per cent increase. On the year, prices climbed 3.5 per cent, their highest level since last January.
Elsewhere, British industrial output rose slightly faster than anticipated in November, supported in part by a jump in oil and gas extraction, but manufacturing unexpectedly stagnated for a second consecutive month. In fact, industrial output rose 0.4 per cent in November, against an expectation of a 0.3 per cent increase and after a downwardly-revised 0.1 per cent decline in October.
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.