Financial news

Trading activity for the first day of the week on the Malta Stock Exchange ended on a marginally positive note as the Index edged up by less than 0.1 per cent to terminate at 3,606.55 points.

Malta International Airport was the day's best performer as the equity rose by 5c or 1.6 per cent to terminate at €3.10. The airport operator also registered the day's highest number of deals as investors transacted 33,610 shares across 15 trades. During the day the company's shares were trading lower at €3.05, before buying activity supported the price to its current standing. Meanwhile, the company also published traffic results for the month of February. During the reported period, MIA registered a 6.3 per cent increase in passenger movements over the corresponding month of 2009. Passenger traffic for the main markets, of the UK, Italy and Spain increased by 3.2 per cent, 16.1 per cent and 75.6 per cent respectively, while Germany registered a decrease of 10.1 per cent.

Maltapost shares also ended the day in positive territory as the equity rose by 1c or 1.3 per cent to close at €0.79.

Bank of Valletta was the session's sole negative performer as the equity shed half a euro cent, which equates to a 0.2 per cent drop to terminate at €3.305. HSBC Bank Malta was a non-mover during the day as the equity closed unchanged at €3.29. An aggregate 11,410 shares were transacted across eight deals. Likewise, Go and International Hotel Investments also ended the session without any alteration to their share price, which closed at €2.29 and €0.80 respectively.

The week ahead - Economic indicators for week starting March 8

The economic indicators for the week ahead in the United States will be focused on trade balance figures and retail sales statistics. The nominal US trade deficit is expected to widen by $41.0 billion in January from $40.2 billion in December. Most of the widening should come from a rise in import prices that outpaced export prices on the back of rising petroleum costs. Meanwhile, retail sales are forecast to decline to a negative 0.2 per cent in February, largely because adverse winter conditions caused consumers to stay at home. Elsewhere, the University of Michigan Consumer Sentiment Index is anticipated to remain practically unchanged for March at a reading of 73.8 from February's 73.6.

In the eurozone, the coming week will be relatively light on economic indicators. Industrial production in the 16-country members of the euro is expected to increase by 0.7 per cent in January, up from its dismal performance a month earlier when it dropped by a revised negative 1.6 per cent. Meanwhile, during the week the European Central Bank (ECB) will publish its March Monthly Report, which gives detailed figures of current and future economic trends in the euro-area.

In the United Kingdom, industrial production is expected to register just a marginal 0.3 per cent month-on-month increase in January, slightly less than the 0.5 per cent gain registered for December. Manufacturing production figures are also expected not to have posted a meaningful gain. Meanwhile, the UK's visible trade balance for January is predicted to be at £7 billion, down from its prior £7.28 billion a month earlier.

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.