Financial news
MSE daily report
The Malta Stock Exchange managed to post strong gains yesterday as the index advanced by almost 90 points, or 2.4 per cent, to close the first day of trading for the week at 3784.097.
Middlesea Insurance plc was the most heavily traded equity on the day as over 76,000 shares were exchanged across 31 deals as the share price declined by 3c1, or 4.2 per cent, to end the session at €0.70.
Bank of Valletta plc was the big mover on the day as its stock increased 4.4 per cent on 25,560 shares to finish the trading day at €3.50, up 15c.
HSBC Bank Malta plc also made solid gains yesterday as the bank's shares increased by 15c, or 4.1 per cent to close at €3.80.
Other stocks to make gains on the day were Datatrak Holdings plc, which gained 0c5 to close at €0.16 on 2,194 shares and FIMBank plc which closed up 3c, to end the session at US$1.18, on 11,000 shares.
Other issuers which saw their shares traded on the day but remained unchanged were Go plc, where 13,480 shares exchanged hands to remain at €2.26, Maltapost plc with 5,000 shares traded at €0.74 and Plaza Centres plc with 1,000 shares trading to close at €1.65.
The week ahead - Economic indicators for week starting January 18
In the United States, the Producer Price Inflation (PPI) for December is expected to remain unchanged from its November reading, but strong base effects are expected to push PPI sharply higher on a year-on-year basis. In the housing market, Housing Starts are expected to post a marginal increase in December to 580K annualised units. Elsewhere, the Index of Leading Indicators is expected to rise 0.7 per cent in December, which would be slightly less than the 0.9 per cent registered in November.
In the eurozone, the German ZEW survey on economic sentiment is expected to remain unchanged for January from its previous reading of 48. Meanwhile, the flash composite Purchasing Managers' Index, which merges the manufacturing and the services sectors, is expected to increase further in January to a reading of 54.4, up from December's 54.2. On Friday, Industrial New Orders during November are expected to post gains of 0.5 per cent on a monthly basis, which is a marked improvement from the negative 2.2 per cent registered in October.
In the United Kingdom, the week's highlight will be the labour market report, where the unemployment rate for a three-month period ending in November is expected to increase to 8 per cent from 7.9 per cent, while the jobless claims change for December is predicted to improve at -4,600 from its prior -6,300. Meanwhile, consumer prices are expected to remain unchanged on a monthly basis in December at 0.3 per cent, while retail sales are anticipated to post a robust 1.1 per cent increase for the same period. UK public sector net borrowing for last month is anticipated to be at £19 billion, less than its previous £20.3 billion.
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.