Financial news

The Malta Stock Exchange dropped more than 19 points, or 0.5 per cent yesterday, to close at 3,554.728 on moderately low volume of 51,084 shares across 31 deals.

Bank of Valletta plc shares were the day’s big losers, falling 4c9, or 1.7 per cent, to close at €2.850 in 15 deals for a total of 25,950 shares.

HSBC Bank Malta plc shares were also lower, shedding 2c, or 0.7 per cent, to end the session at €2.940 on volume of 11,753 shares across four trades.

Closing in positive territory was the stock of Middlesea Insurance plc, which gained a marginal 0c1, or 0.1 per cent, to end at €1.003 in five deals for a total of 5,241 shares.

Also finishing on the upside was Malta International Airport plc, which added 1c5, or 0.9 per cent, to close the day at €1.750, as 1,000 shares were executed across three deals.

The other equity to trade in the session, yet closed unchanged, were the shares of Go plc, which ended at €1.770 in four deals for a total of 7,140 shares.

Trading in the corporate bond market finished mixed with three of the ten bonds to trade in the session closing lower, while three ended higher. The 7.5% Mediterranean Investments Holding Plc € 2015 issue fell €4.000, or 4.5 per cent to end at €85.000 in three deals for a total of €5,500 nominal. The 4.8% Bank of Valletta Plc Sub € 2020 bond, meanwhile, gained €1.500, or 1.5 per cent, to close the session at €102.00 in five deals across a total of €38,000 nominal.

The week ahead - Economic indicators for week starting March 7

This will be a quiet week in the United States in terms of dataflow, with the first interesting data due to be published on Thursday, when the trade balance figures for the month of January are to be released. Investors, however, will probably be more focused on the publication of the preliminary retail sales data for February, which is due on Friday. Following a month-on-month growth of 0.3 per cent in January, most economists project a stronger rise in February. Of interest as well will be the preliminary reading of the University of Michigan Consumer Confidence survey, also due to be published on Friday.

In the eurozone, economic indicators due this week will be mostly centred around Germany, the region’s biggest economy. After the publication of the January factory orders data today and tomorrow we should have the industrial production figures, also for the month of January. Here economists are predicting stronger readings, in line with other leading indicators. Also in Germany, the trade balance figure for January and the consumer price index data for the month of February are due this week.

The main highlight in the United Kingdom will be the Bank of England’s (BOE) rate setting meeting on Thursday. Here the BOE is expected to maintain both interest rates and the asset purchase programme unchanged at 0.50 per cent and £200 billion, respectively. This week, we shall also have the publication of the industrial and manufacturing production figures, both for the month of January, together with the producers price index data for the month of February.

This article has been prepared by Bank of Valletta plc (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.