The Malta Stock Exchange closed marginally lower yesterday, dropping four points, or 0.1 per cent, to close at 3,584.294 on volume of 32,390 shares across 28 deals.
Go plc shares led the session lower, closing down 1c9, or 1.1 per cent, to close at €1.730 in five deals for a total of 7,700 shares.
Also closing lower were the shares of Middlesea Insurance plc which fell a marginal 0c3, or 0.3 per cent, to end the day at €1.000 in four trades for a total of 4,155 shares.
In the banking sector HSBC Bank Malta plc and FIMBank plc stock also closed lower, shedding 2c and 0c1, or 0.7 per cent and 0.1 per cent, respectively, to close at €2.920 and US$0.924, respectively.
Bank of Valletta plc stock, meanwhile, finished in positive territory by gaining 0c1, or less than 0.1 per cent, to close at €2.970 on volume of 8,435 shares across 10 trades. The only other equity to trade in the session was that of Malta International Airport plc, which managed the day’s best performance by adding 5c, or 2.9 per cent, to end yesterday’s trading at €1.800 on relatively light volume of 5,000 shares.
Island Hotels Group Holdings plc released its interim directors’ statement whereby it noted that for the 18-day period starting February 21, 2011 to date, no material events had taken place that would have had an impact on the financial position of the company
Lombard Bank plc issued a preliminary statement of financial results for the year ended December 31, 2010. The banking group managed to earn a pre-tax profit of €13.9 million for the financial year, which represents a 7.8 per cent increase over 2009 results of €12.9 million.
Weekly UK economic review
The Bank of England kept its benchmark interest rate at a record low yesterday, as policy makers chose to set aside concerns on rising inflation pressures to support the U.K economic recovery. The central bank left the key rate at 0.5 per cent for a 25th month, as was expected by economists. They also decided to leave their bond program at £200 billion, as was also predicted by analysts. The decision comes a week after European Central Bank president Jean-Claude Trichet surprised markets when he hinted that a rate rise may occur as soon as next month.
Factory output, meanwhile, rose one per cent in January, the most in ten months. January’s figure represents a sharp rebound from the 0.1 per cent decline in December, which suffered from exceptionally cold weather, and more than the 0.6 per cent increase economists were expecting. Output in the broader industrial sector also rose slightly more than expected, by 0.5 per cent ion the month, but was tempered by a 6.2 per cent fall in utilities output – the sharpest in almost two years – which reversed the cold-weather boost in December. The Office of National Statistics said 10 of the 13 manufacturing sub-sectors recorded growth on the month and one of the main drivers was an increase in non-metallic mineral products – mainly building materials – which posted a 9.9 per cent rise after a sharp drop in December.
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.